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Rey would like to make monthly deposits of 75,000 every month into an investment that grows at 12% compounded monthly until his 60th birthday. He

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Rey would like to make monthly deposits of 75,000 every month into an investment that grows at 12% compounded monthly until his 60th birthday. He wants to accumulate an amount of at least P10,000,000 in the account. a. At what age (at the latest) should he start so he would have enough time to accumulate the P10,000,000 at age 60? b. Suppose the investment account goes past the P10,000,000-mark on his 60 th birthday. He then makes monthly withdrawals of P100,000 per month beginning one month after his 60th birthday. Assume that the growth rate of the investment account remains the same, will the money in the account ever get depleted? Why or why not? c. Rey's 40 th birthday is today. If he doubles his monthly deposits that begins today, can he still accumulate the P10,000,000 by age 60? Why or why not

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