Hussein wants to retire with $2M in his retirement account. He has narrowed down his retirement options to 3 Plans. Plan 1: Save equal monthly payments for the next 25 years earning 8% return. Plan 2: Hold off saving for now and then save equal monthly amounts the last 15 years of his career earning 7% return. Plan 3: Save equal monhtly amounts the last 5 years of his career earning 6% return. What's the minimum amount Hussein will need to save each month in order to achieve his goal of having $2M in retirement savings?

Monthly Payment