Question

1. A financial analyst is reviewing one of its client's documents. The client is working in an organization that offers a pension in the form of an annuity that pays 5% interest, compounded monthly. The client wants to work for 30 years and then have a retirement income of 4000 Taka per month for 25 years. The money he will be withdrawing is from the same account earning 5% monthly interest. According to the suggestion of the analyst, how much does the client have to deposit per month into the pension fund to accomplish this? (5)
can I get solution step by step ?​

Answer 1

Answer:

The client is working in an organization that offers a pension in the form of an annuity that pays 5% interest, compounded monthly. The client wants to work for 30 years and then have a retirement income of 4000 Taka per month for 25 years