Question: Kevin is 25 years old and will invest on a monthly basis, at the end of the month at the annual compounded rate of 5.5% until he is 60 ears old. Starting at age 60, he will not be working and will require an income of $3,000 per month for 30 years until the age of 90. His investments starting at age 60 will have annual compounded return of 4.0 %. How much will Kevin have to invest on a monthly basis starting at age 25 to meet his retirement goals.

7) Performance criteria: ( 10 points - Minus 3 points for wrong formula, minus 2 points for wrong answer. minus 10 points for wrong formula, procedure and wrong answer) Question: Kevin is 25 years old and will invest on a monthly basis, at the end of the month at the annual compounded rate of 5.5% until he is 60 years old. Starting at age 60 , he will not be working and will require an income of $3,000 per month for 30 years until the age of 90 . His investments starting at age 60 will have annual compounded return of 4.0%. How much will Kevin have to invest on a monthly basis starting at age 25 to meet his retirement goals