Question: For this question there's no rounding in between calculations only the final answer can be rounded to the nearest cent. you were planning to retire

For this question there's no rounding in between calculations only the final answer can be rounded to the nearest cent.

you were planning to retire in 25 years. every six months (beginning six months from now) for the next 25 years you plan to make a contribution into a retirement account that is expected to earn an interest rate of 5% compounded quarterly. Once retired you want to collect a pension of $40,000 per year (collected through quarterly payments starting at the end of the first quarter of your retirement). The balance in the account is expected to earn 3% compounded semiannually after you retire. if your life expectancy after retirement is 35 years, calculate how much you need to contribute semi annually until you retire.

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