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You are currently 25 years old. You plan to retire when you are 60. You guess that you will need to support yourself for 30

You are currently 25 years old. You plan to retire when you are 60. You guess that you will need to support yourself for 30 years after your retirement and that you will need around $80000 per year. You currently have $50000 already invested in the stock market which you estimate will make an average return of 7% going forward. You also plan to put money aside each month into a savings account that earns interest of 3% per year. After you retire you will put all your money into a retirement account that earns 2% per year. If you want to be able to withdraw $80000 per year from this account after you retire such that you have 0 dollars in the account on your 90th birthday, how much do you have to save per month while working? (15 Marks)

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