QUESTION $2$

Answer the question.

Suppose you are $25$ years old and would like to retire at age $65.$ Furthermore, you would like to have a retirement fund from which you can draw an income of $$253,279$ per year$-$forever! How can you do it$?$ Assume a constant APR of $5\%$ compounded monthly.

Deposit $$2,543\mathrm{.}61$ per month.

Deposit $$2,944\mathrm{.}91$ per month.

Deposit $$3,988\mathrm{.}59$ per month.

Deposit $$3,319\mathrm{.}47$ per month.