You turned $22$ todlay and Just started, a now job, which happons to havo a great relirement plan into which you may lnvest You are hopirig to rebire at age $62$

and work around the world In inlssionary and humanilarian efferts. Aased on historical averages, you belleve that you can eam $12\%$ on your invesisnents until

you retire. You will ine silghtly more conservative during retirement and plan on earning $8\%.$

a$.$ If you need $$12,000$ at the beginning of each month during relirement and expect to live until age $80,$ how much must you invest each month until you

retire?

$99\mathrm{.}39$

$117\mathrm{.}35$

$137\mathrm{.}50$

$129\mathrm{.}41$