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You have decided to start saving for retirement. Your bank is willing to set you up with an IRA with a 3.7% APR. You need
- You have decided to start saving for retirement. Your bank is willing to set you up with an IRA with a 3.7% APR. You need to have at least $400,000 in the account in 45 years to be able to retire.
- How much of your remaining monthly budget do you want to put into the account each month? (10 points)
- Why did you decide on this number? Support your answer with at least 3 sentences. (30 points)
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