Susan is starting to plan for retirement. She has opened a bank account that pays 6% effective annual rate. She has two retirement goals that she would like to save for. Her first goal is to have enough money in her bank account to fund her retirement needs. She will retired exactly 20 years from today. She plans on being retired for 25 years and would like to spend $80,000 per year during retirement. She will withdraw her first retirement payment exactly on the day she retired (this is at t=20). Her second goal is to take everyone in her entire family on a cruise to Alaska during her retirement. She is planning on taking this cruise exactly 22 years from today. Currently the cruise, for all of members of her family, would cost $62,000. She expects the price of this cruise to increase at the rate of inflation, which is expected to be 2% per year. She will make monthly deposits into retirement account during her remaining 20 years of work. How much should she put in the bank each month, starting today, to meet her needs? (Hint: She will make deposits starting today (t=0) and continue for the next 20 years or 240 months?)