You are 21 years old today. Starting one month from now, if you deposit $400 per month for 32 years into your retirement account which earns 0.8 percent per month, are you a millionaire by age of 53 ? Part 1 Attempt 1/10 for 10 pts. Find out how much money you will have by age of 53 . If that number is greater than one million, then you are a millionaire by that age. Consider a loan for $37,419 that is paid off in 15 yearly payments of $3,000 (at the end of each period). Part 1 Attempt 1/10 for 10 pts. What is the interest rate? withdraw $80,000 per year for 25 years during retirement, starting first withdrawal one year after your 65th birthday. You expect to earn a return of 6% on your investments every year. Part 1 Attempt 1/10 for 10 pts. How much retirement saving do you need to have by 65 th birthday to support the withdrawals in the next 25 years? Or the same question can be asked differently, what is the present value (as of your 65th birthday) of the withdrawals you expect to make? You took out a mortgage for $400,000. You need to pay $3,375 every month for 15 years. Part 1 - 1 - Attempt 1/10 for 10 pts. What is the monthly interest rate