You want to build a retirement wealth that will provide you with $$5,000$ of monthly income for $25$ years after you retire. You still have $30$ years until you retire, and you haven't saved anything yet. The required return on your retirement investments is $10\%.$

How much do you need to set aside per month in the $30$ years before you retire to get your retirement goal?

Hint: First, determine the amount you need to yield the $$5,000$ payments for $25$ years

$QTT=-5,000$

$N=300$

$T=\mathrm{.}1\%12$

Then, decide how much you need to put in your retirement account each month from today.