Question: Answer b) only please! Given that Henry want to have $572,328.93 in his retirement account when he retires in 5 years, how much must he

Answer b) only please!

Given that Henry want to have $572,328.93 in his retirement account when he retires in 5 years, how much must he save each month over the next 5 years in order to achieve his retirement objective if his account earns a nominal APR of 4 percent?

b) Given the information above, how much must Henry save each month to accomplish his retirement objective if he makes contributions to his retirement account at the beginning of each month? Can you please show me which formula to use and the inputs of the formula to get this answer, only using the calculator to find the PVIFA?

Answer:$8,603.87

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