Question: 7. (1 point) You just decided to begin saving for retirement. You will make deposits of $1,000 per month into a retirement account that earns

7. (1 point) You just decided to begin saving for retirement. You will make deposits of $1,000 per month into a retirement account that earns 8.00% p.a. The first deposit is made today and the last deposit will be made when you retire exactly 30 years from today. (Note: you make 361 total monthly deposits into your retirement account.) You will begin to make withdrawals from the account the first month after you retire. If you plan to live an additional 25 years and leave $900,000 to your heirs, you will be able to withdraw $ each month. (Note: you make 300 total monthly withdrawals from your retirement account.) a. 10,122.35 b. 10,339.80 c. 10,552.10 d. 10,746.04 e. None of the above

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