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Finance: Suppose you want to have $500,000 for retirement in 35 years. Your account earns 7% interest. a) How much would you need to deposit

Finance:

Suppose you want to have $500,000 for retirement in 35 years. Your account earns 7% interest.

a) How much would you need to deposit in the account each month?

$________

b) How much interest will you earn?

$_______

Note from student (me): I've been doing similar problems with Annuity formulas but can't figure out how to find the correct answer. Any help would be great.

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