Solve for X Bilbo Baggins wants to save money to meet three objectives.

• He can afford to save $2,000 per month for the next 15 years. (Year 1 - Year 15)
• He would like to purchase a Porsche in 15 years at an estimated cost of $200,000.
• From Year 16 - Year 30, he will save $6,000 per month and will retire at the end of Year 30.
• After he retires, he would like to withdraw $x per month for 25 years. At the end of the 25 years of withdrawals, he will leave an inheritance of $1.5 million to his nephew Frodo.
• Pre-retirement account APR = 7.2%, Post-retirement account APR = 4.8%, and both accounts will be compounded monthly.

Solve for x.