U just started your first job. U want to start saving so that u can be ready for marriage in 5 years. TO determine how much you should save, you calculate your monthly expenses for the first 4 years of marriage. You expect these expenses to grow at a rate of 0.25% per month and you can earn interest of 1% per month at the bank.

600$ in food

150$ for car payments

500% for rent

$400 for travel

a. what is the total amount that u need saved at the start of your marriage (t=5) to cover the expenses of the first 4 years of marriage?

b. how much do u have to save per month, starting at the end of the month, in order to make sure u have the total amount right before u get married?