Suppose you plan to retire at age 70, and you want to be able to withdraw an amount of $5,000 per month beginning with the first month after you 70th birthday until you reach your birthday at age 100. If the account which contains your savings earns 5% APR compounded monthly, how much money needs to be in the account by the time you reach your 70th birthday? (Answer to the nearest dollar) THE CORRECT ANSWER IS 931,408. I need to know how this answer was obtained.