Q4. Time value of money: retirement savings Ellen is celebrating her 25th birthday and wants to start saving a fixed amount every month for her retirement. She plans to work until her 65th birthday. She expects to live for 90 years and wants to be able to withdraw $10,000 per month after her retirement until she is 90 years old (the first withdrawal from her retirement account will be one month after her 65th birthday). Ellen intends to invest her money in a retirement account that offers her an interest rate of 9% (APR, monthly compounded). How much does Ellen have to put in her retirement account each month (starting from the first month after her 25th birthday until her retirement) to meet her plan after retirement? (a) Draw the appropriate timeline. (b) Make sure to explain all the steps you take and equations you use to find the final answer. Q4. Time value of money: retirement savings Ellen is celebrating her 25th birthday and wants to start saving a fixed amount every month for her retirement. She plans to work until her 65th birthday. She expects to live for 90 years and wants to be able to withdraw $10,000 per month after her retirement until she is 90 years old (the first withdrawal from her retirement account will be one month after her 65th birthday). Ellen intends to invest her money in a retirement account that offers her an interest rate of 9% (APR, monthly compounded). How much does Ellen have to put in her retirement account each month (starting from the first month after her 25th birthday until her retirement) to meet her plan after retirement? (a) Draw the appropriate timeline. (b) Make sure to explain all the steps you take and equations you use to find the final