You are starting to plan for your eventual retirement, and you've decided you would like to retire in $39$ years. Your goal is to be able to provide yourself with a $$145,000$ real annual income for $30$ years. To achieve this goal you plan to make equal sized deposits at the end of each month until you retire, starting today. You assume that you will be able to earn a $14\mathrm{.}5\%$ return until retirement, and a $9\mathrm{.}9\%$ return during retirement. You also assume that inflation will be $6\mathrm{.}7\%$ per year. How much will you need to save each month to reach your goal? During retirement you will withdrawal your income at the start of the year. $(20$ points total$)$

Answer

$\backslash$table$[[$Retirement Years$],[$Year$,,$Income,,sent Value$],[1,$$$,145,000\mathrm{.}00,$$$,145,000\mathrm{.}00$