Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest compounded monthly.

a) How much would you need to deposit in the account each month?

$

b) How much interest will you earn?

$

Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest compounded monthly.

a) How much would you need to deposit in the account each month?

$

b) How much interest will you earn?

$

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