You want to retire in 35 years. To fund the retirement, you deposit $25,000 into an account now, and you deposit $20,000 five years from now. You also plan to save an equal amount each year between now and 35 years from now. Once you retire, you want to withdraw $85,000 at the end of each year for 25 years. r=6%.

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How much money must be in your account at the time of retirement to cover your retirement needs?

You will need $ ... in the account in 35 years to cover your needs. Y

ou need to save at the end of each year for the next 35 years $ . per year.