You already have $4,000 saved. Your goal is to be able to withdraw $500 each year forever with first withdrawal of $500 being 12 years from today. What is the minimum equal amount you would have to invest today and for each of the next 10 years if the invested money earned 6%, compounded monthly? Clearly indicate the point you are solving to! Do not solve for X but instead leave your final answer in set-up form. Do not calculate any factors. Failure to specify the point to which you are solving will result in you receiving no credit.

Please show all steps used so I can cully understand and follow along. Thank you so much!