Question:I have two bank accounts: a checking account and a savings account. On January 1, 2020, the balance of my checking account was $5,360 and the balance of savings account was $10,300. The interest rate on the savings account is 0.9% APY (compounded monthly). The checking account receives no interest and has a monthly fee of $3. Every month, I receive two $3,000 paychecks. $2,500 goes into my checking account and $500 into the savings account. My checking account auto pays two monthly bills: my mortgage ($2,200) and my car payment ($400). If these are the only transactions, what is the balance in each account at the end of the year?

Question:Retiring at age 60, how much money would I need to have at retirement if I wanted a yearly withdrawal of $60,000 for the next 30 years to travel the world and live comfortably. The anticipated interest rate is 7% and the current value is $100k. Additionally, what would be the monthly payment to achieve that goal for retirement in 32 years