1. You want to accumulate a total of $500,000 for your retirement in 20 years with a compounded monthly return of 9%. How much should you invest each month?

$592.87

$2083.33

None of these answers

$748.63

2. You would like to have a total of $5,000 for a trip in 5 years, and you can invest at a simple interest rate of 4%. How much should you invest today?

$4,200

$4,100

None of these answers

$4,166.67