Your friend Pete, who is 25 years old, just landed his dream job and is beginning his career. To save up for retirement, he wants to deposit a certain amount of money from his monthly paycheck into an account that earns 7.2% interest, compounded monthly. He wants to do this from now until he turns 65 years old and retires. 1. How much will he have to deposit each month so that when he retires, hell have $2,000,000? 2. How much money will Pete earn as interest from the account when he turns 65 years old and retires? WH Pete retires at the age of 65, he plans on rolling over his account into a more secure (lower risk) account that earns 2.5% annual interest, compounded quarterly. For the next 20 years Pete will withdraw money from this account every quarter to use during his retirement. 1. If he withdraws the same amount of money from the account each quarter, how much of his quarterly amounts be? From the time Pete started working until he's done withdrawing money when he's 85 years old, how much money has he contributed to his retirement fund? How much interest has he earned, in total? Dale, who is also 25 years old, is highly motivated to retire early. Instead of doing what Pete does, Dale wants to contribute double Pete's amount to his retirement account (earning the same interest and compounding as Pete's account). 1. If Dale does this, how long must he work and deposit money in order to reach $2,000,000 goal