Suppose you until you plan to retire in exactly 30 years, and that you desire a retirement nest-egg (principle amount) of $2,500,000 in 2051 on the day you retire. Suppose also that you saved $187,500 toward your retirement so far, and that you expect your investment account to earn an annual nominal rate of 3.6% per year, but the account is compounded monthly.

a) What is the expected effective interest rate, or annual percentage yield, of your investment account?

If this account will not achieve your goal without the injection of additional funds

b-1) what effective interest rate would be required to achieve the goal?

If this account will achieve your goal without the injection of additional funds

b-2) how much excess do you have in the account (Goal Actual) at retirement?