You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4500 per month. You have access to an account that pays an APR of 7.2% compounded monthly. (Fill in the blanks below and round your answers to 2 decimal places.)

What size nest egg do you need to achieve the desired monthly yield? Nest egg needed = $

What montly deposits are required to achieve the desired monthly yield at retirement? Monthly deposit needed = $