This is Section $5\mathrm{.}2$ Problem $34$:

Refer to Exercise #$30.$ If John waits until he is $35$ to start investing for his retirement, then he needs to invest $ each month in order to have the same amount when he retires at $67.($Round the answer to an integer at the last step.$)$

Hint: Follow Example $9$ but reset the perimeters.

Additinnal Matoriale

This is Section $5\mathrm{.}2$ Problem $30$:

John is $28$ years old and plans to retire at $67.$ He wants to have a fund at $67$ that will let him spend $$4,500$ a month after retirement, and last for $45$ years. Assume a continuous money flow.

Answer the following. Round your answers $($at the last step$)$ to integers.

$($a$)$ Suppose that after his retirement John puts the money in a fund paying interest at an annual rate of $4\mathrm{.}2\%,$ compounded continuously. Then John will need $

for his retirement.

$($b$)$ Suppose that John starts to invest a fixed amount each month from now until he retires, in a fund that pays interest at an annual rate of $6\mathrm{.}2\%,$ compounded continuously. Then he should invest $

each month.

Hint: Follow Example $9.$

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