Question: 2. Assuming a 7.5% interest rate compounded monthly, if someone wanted $1,000,000 by the time they are 60 years old started saving at a) age

2. Assuming a 7.5% interest rate compounded monthly, if someone wanted $1,000,000 by the time they are 60 years old started saving at

a) age 25, how much would they he/she need to set aside per month?

b) age 35, how much would he/she need to set aside per month?

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