You just turned 35 year old and realized that you would have to start depositing every month in order to live after your retirement without having to change your lifestyle you would like to be able to withdraw and use $20,000 each month for 20 years after your 60th birthday.

If you withdraws the amount at the beginning of each month how much will you need to deposit into you account at the end of each month?

Assume that you first deposit will be made one month from today and the last deposit will be on your 60th birthday. Also assume that your bank owns 12% interest, compounding monthly, both before and after her retirement.