You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $6000 per month. You have access to an account that pays an APR of 4,8% compounded monthly. This requires a nest egg of $1,047,125.97 What monthly deposits are required to achieve the desired monthly yield at retirement? (Round your answer to the nearest zent.) $.723.40 X eBook We consider the effects of starting early or late to save for retirement. Assume that each account considered has an APR of 6% compounded monthly If you begin by depositing $50 each month into an account at age 20. your nestegt you retire at age 65 will be $137.799,63. If you start making monthly contributions at age 40 and plan to retire at age 65, your monthly contributions will be much higher in order to match this nest egg amount. Compare your monthly deposit of $50 at the age of 20 to your monthly deposit at the age of 40. 165,350.50-011-0.00/127300-1/0 00012 105350505-002900(165,359.667092.99) C-238.02 Score: 1 out of Comment Compare the total amount deposited in each case 238.62.60 178,62