You are just 25 years old and you have $50,000 in your retirement saving

accounts. You expect to retire at the age of 65 (work for 40 more years) and expect

to live for another 25 years after your retirement. On the day you retire, you want

to have enough money in our retirement saving accounts such that you are able to

draw $7,000 per month for 25 years. You are conservative in your estimate of

interest rate and expect to earn on an average 4.5% on your money during the

entire period.

A) How much you need to deposit each month throughout your working

years to achieve your post retirement income goal, if you plan to die on the

day you spend your last penny?