Mr. White is updating his estate plan for himself and his family. He would like to provide an income of $3000 every month starting 10 1 / 2 years from now and continuing for the next 20 years. He has...

Mr. White is updating his estate plan for himself and his family. He would like to provide an income of $3000 every month starting 10
¹/₂
years from now and continuing for the next 20 years. He has started his account with an initial deposit of $10,000 and he knows his life insurance, maturing in 5 years, will have a cash value of $150,000. To make up the difference , Mr. White has decided to make monthly deposits in the account. How much should each deposit be if all interest is computed at 6% compounded monthly?