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Belle, who has just started her first full-time salary job is determined to have $1 million in her account by the time she retires. She
Belle, who has just started her first full-time salary job is determined to have $1 million in her account by the time she retires. She is now 25 and hopes to retire at 65 years of age. Her investments have been earning 5.25% annual return and she thinks its realistic that can be maintained.
How much would Belle have to put aside each month, in order to reach her goal? [1]
What is the total amount of money she will have saved? [2]
How much interest will have been earned? [3]
The final answers should be rounded to two decimal places.
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