Justin Barber would like to retire in 25 years, and he estimates that he will need $1,000,000 at this time. He plans to deposit $1,000 a month in a retirement account that pays 8% annual interest.

1. 1. If Justin makes his first $1,000 deposit next month, how much money will he have by the end of 25 years? Will he have the $1,000,000 that he needs?
2. 2. How much will Justin have to deposit every month if he wants to have exactly $1 million 25 years from now?