Scott is a $50-$year$-$old Administrator who works and lives in Melbourne. Scott wants to buy a rural property on the outskirts of Bendigo, Victoria when he retires at age $64$ and grow vegetables. The property he is currently looking at is priced $$350,000$ and is expected to grow in value each year at a $4\%$ rate. $1.$ Citi Bank is offering Scott $6\%$ interest p$.$a$.$ compounded monthly. Assuming Scott opens an account with Citi bank and starts depositing a monthly amount, how much must he invest at the end of each month till he retires to be able to buy this property when he retires? $2.$ If Me Bank offers him $6\mathrm{.}02\%$ interest but compounded quarterly and ANZ Bank offers him $6\mathrm{.}05\%$ interest but compounded semi$-$annually, which bank should Scott invest: Citi Bank, Me Bank or ANZ Bank? $3.$ Now, consider your answer to part $1,$ the amount Scott must save each month. Calculate what amount Scott must earn at a minimum each year if the savings equates to $28\%$ of his pre$-$tax earnings.