Question 29 (3 points) A couple wants to withdraw $6,000 at the beginning of each month during retirement. The couple expects retirement to last 20 years. During retirement, the couple will have their money in a savings account that pays 1.2% APR (with monthly compounding. Currently, the couple has 25 years from today until retirement and has $100,000 in their retirement mutual fund. The fund earns 5.6% APR (with monthly compounding. The couple will make contributions to this account at the end of each month. How much do they need to contribute each month to reach their retirement goal? Format $1,234.44 as 1234 $897 $1,556 $1,345 None of these answers are correct $1,923 $843 $1,003 Previous Page Page 2 of2 Submit Qulz questions save