-1A. $30 into interest: S5 into principle: concept of perpetuity is NOT relevant for this question B. $34 into interest; $1 into principle; cannot be determined C. $35 all into interest; Debt principle remains $2,400; $2,333.33 U. First month interest is $36, so all $35 pays into interest yet not enough, and principle rises to $2,401; 54,533.5 -2 A. 9.0 years at $40/month B. 11.9 yrs at $40/month C. 12.9 yrs at $40/month D. $40/month CANNOT pay off the debt E. None is correct . Today is your 21st birthday and you just decided to start saving money so you can retire early. Thus, you are going to save $500 a month starting one month from now. You plan to retire as soon as you can accumulate $1 million. you can earn an average of 8 percent on your savings, how old will you be when you retire? A. 33.39 years old B. 42.87 years old C. 54.39 years old D. 63.87 years old