You are 30 years old and plan to retire at age 70, which is 40 years from now. You would like to have $1.0Mn at the end of 40 years (which is when you retire). Wh should your monthly payment be, if you believe you can earn 12% compounded monthly? $158.13 $213.61 $135.05 $61.35 $85.00 $46.61