Question $12$

You want to have $$1,000,000,25$ years from today. Assuming a $7\%$ annual return $($which will be compounded monthly$),$ how much do you need to invest each month in order to have the $$1,000,000$ in $25$ years?

$$1,234\mathrm{.}46$

$$823\mathrm{.}65$

$$445\mathrm{.}95$

$$37,270\mathrm{.}55$