Tim (who is currently 20 years old) wants to to retire at the age of 65 with 1,000,000 in savings. Determine the monthly payment into an IRA if the APR is 8.5% and he wishes to begin making payments at the following ages (show all work and write answers in complete senetamces )
A - 20 years old. Does Tim have enough money currently to make these monthly payments? Why or why not?

B - 30 years old. Does Tim make enough money currently to make these monthly payments? Why or why not?

C - 40 years old. Does Tim make enough money currently to make these monthly oayemmrs ? Why or why not?