5024.6 5024.6 at least one of the answers above is NOT correct. (1 point) a) How much must be placed each month into a retirement account earning 11% com the value of the account is to reach $ 1,000,000 in 30 years? Answer = $ 356.57 b) If the account continues to earn 11% annually after retirement, how much interest is earned pa the interest earned will be used as income, so use the simple interest formula since the interest i into the retirement account) Answer = $ 5024.60 Note: You can earn partial credit on this problem. Preview My Answers Submit Answers Your score was recorded 5024.6 5024.6 at least one of the answers above is NOT correct. (1 point) a) How much must be placed each month into a retirement account earning 11% com the value of the account is to reach $ 1,000,000 in 30 years? Answer = $ 356.57 b) If the account continues to earn 11% annually after retirement, how much interest is earned pa the interest earned will be used as income, so use the simple interest formula since the interest i into the retirement account) Answer = $ 5024.60 Note: You can earn partial credit on this problem. Preview My Answers Submit Answers Your score was recorded