Question:

Suppose you want to have $700,000 for retirement

Last updated: 7/8/2022

Suppose you want to have $700,000 for retirement

Suppose you want to have $700,000 for retirement in 35 years. Your account earns 5% interest. Round your answers to the nearest cent. a) How much would you need to deposit in the account each month? b) How much interest will you earn?