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3. Suppose you want to be able to withdraw $1000 each month when you retire at the age of 65 and you plan on
3. Suppose you want to be able to withdraw $1000 each month when you retire at the age of 65 and you plan on living to 90. To do this you start saving money in an account that pays 7.5% compounded monthly with monthly deposits at the age of 30. You use the same account for the whole 60 years. a. How much should you deposit in the each each month to make this happen? b. How much did you make in interest over the whole 60 years?
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