QUESTION $11$

$10$ points

Kendra is determining how much money she needs to invest on a monthly basis to reach her retirement goals. She wants toltare conoug money to provide $$2000$ of monthly income in retirement and believes she can earn a $6\%$ while in retirement. She wants this income to laes for $30$ years. As of today, she has saved nothing, but she still has $20$ years until she retires. She can earm a $10\%$ retum from now unl ber retirement date. How much money does she need to contribute per month to reach her goal?

Hint: first calculate what she needs to begin retirement, then calculate what she needs to save to reach that goal. Show your calcultions at each step to be considered for partial credit. For example, list how she needs in retirement and how you calculated that, then lis tow much she needs to invest now and how you calculated that.

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$10$pt