My Notes Ash Your Teachars If Jack wants to retire with $1,000 per month, how much principal is necossary to generate this amount of monthly income if the interest rate is 5% oompounded monthly? Need Help? Talk to e Tuter Reed I 13. -1 points Smitha13 11.1 053 My Notes Ask Your Taacher Cakulate the time necessary to achieve an investment goal. Gve your answer to the nearest day. Use a 365-day year. (First enter the total number of full years, then give the remaining days.) $1,000 at 4% daily interest; deposit $4,500h yoars, days Need Help? Read t Telk to auer 14, 5 points SmithM13 11.1.057 My Notes Ask Your Teacher Suppose that $1,000 is invested at 6 % interest compounded monthly, Use the formula A- 4 (a) How long (to the nearest month) before the value is $1,2507 years, months (b) How long (to the nearest month) before the money doubles? years, months (c) What is the interest rate (compounded monthly and rounded to the nearest percent) if the money doubles in 5 years? % Need Help? Read It Talk te e Tutor