Answer:
Monica contributes "$628.55" every month to reach her goal.
Step-by-step explanation:
The given value is:
Monthly income of Monica for 20 years = $5000
As we know,
Value of withdrawls at retirement,
=

On putting the values in the above formula, we get
=

= $597,771.46
Therefore,
Fv (Future value) = $597,771.46
Now,

On putting the values in the above formula, we get

$628.55
So that the monthly savings will be "$628.55".