So here is the scenario: I Currently am 25 years old. I have 20,000 invested in a brokerage account that I expect to give me a return of 8% compounded semi-annually. I am planning to work until I am 60 and put some money away monthly in a investment account that gives me a return of 5% compounded monthly. (First payment will be one month from now and last payment will be the month I retire.You can assume I turned 25 today).

As soon as I retire, I plan to move somewhere warm and buy a house for 600,000 and invest all my remaining money into risk free treasury bonds that will give me a return of 2% compounded monthly. My expected monthly expense for the remainder of my life is 5,000 a month, that I will be needing at the beginning of each month. Hopefully, I'll live until I am 80 years old.

• How much should I put away each month in my savings account until I retire, so I can meet all my retirement needs. (Try not to round any intermediate results)

• Recalculate the same above question but assume my brokerage account that gives me 8% compounds continuously instead of semianually.