1. You want to have $1 million to use for retirement in 35 years. If you can...

Question:

1. You want to have $1 million to use for retirement in 35 years. If you can earn 1% per month, how much do you need to deposit on a monthly basis if the first payment is made in one month?

2. What if the first payment is made today?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer: