Question 1 (10 points) On 1 January 2021, Lucy wants to have $20,000 to be available at the end of December 2030. She already has $4,000 in the bank, which pays interest at an annual rate of 12%, compounded monthly. If Lucy wants to put an additional equal amount of money in the bank at the end of each month till the end of December 2030 so that she can achieve her $20,000 goal, how much should Lucy monthly deposit in the bank?