** ASSUME that in 25 years you will need $500,000 for

your retirement (i.e. retirement is actually 25 years away,

and you want to have saved $500,000).

If you will make equal MONTHLY payments at the end of each MONTH

for the next 25 years to fund your retirement,

what is the amount of the MONTHLY payments required to fund your

retirement?

Assume the 8% APR discount rate with

monthly compounding for this question only.

3859

3903

570

526

Insufficient information to compute