In order to have $1 million 30 years from now when you retire (assuming 11% annual return), how much do you need to invest per MONTH (assume monthly compounding)?

A)

5,024.00

B)

9,523.00

C)

356.00

D)

29,111.00

Question 6

You invest $5,000 per year for 10 years, earning 8%. What is the Future Value?

A)

33,550.00

B)

10,794.00

C)

72,432.00

D)

51,526.00

Question 7 (1 point)

You need to have $50,000 20 years from now. You will earn 9%. How much do you need to save per YEAR, in order to have the $50,000 in 20 years?

A)

2,500.00

B)

977.00

C)

74.00

D)

5,477.00