You have 20 years left for your retirement. You wish to accumulate a  sum large enough by that time which will allow you an annual withdrawal  of $100,000 every year for 30 years. The average interest rate between  now and the 20th year is likely to be 4% p.a. From then onwards, for  the next 30 years, it is likely to be 6% p.a. How much should you save in an interest-bearing account at the end of  each month to be able to have enough money at the time of retirement  which will allow you your desired withdrawal of $100,000 every year  for 30 years after retirement? Assume that the interest in the  interest-bearing account is compounded monthly.

You have 20 years left for your retirement. You wish to accumulate a 
sum large enough by that time which will allow you an annual withdrawal 
of $100,000 every year for 30 years. The average interest rate between 
now and the 20th year is likely to be 4% p.a. From then onwards, for 
the next 30 years, it is likely to be 6% p.a.
How much should you save in an interest-bearing account at the end of 
each month to be able to have enough money at the time of retirement 
which will allow you your desired withdrawal of $100,000 every year 
for 30 years after retirement? Assume that the interest in the 
interest-bearing account is compounded monthly.