Question: 8. [-/1 Points) DETAILS CRAUDQL3 4.3.019A. MY NOTES You plan to work for 40 years and then retire using a 25-year annuity. You want to

8. [-/1 Points) DETAILS CRAUDQL3 4.3.019A. MY NOTES 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 8.4% compounded monthly What size nest egg do you need to achieve the desired monthly yield? (Round your answer to the nearest cent.)

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