A couple want to have $1,500,000 when they retire in 10 years. They have $700,000 today and plan to invest $1000 every month for the next ten years.

What annual rate must they earn on their investment to reach their goal? 5 points

If they earn 7% a year on their investment how much will they have at the end of the ten years 5 points

The following is based on the amount in the account after earning 7%.

After retiring they start to withdraw $10,000 at the beginning of every month for the next 30 years. They earn 5% a year. How much will they have at the end of the 30 years? 5 points

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