Question: a) How much must be placed each month into a retirement account earning 13% compounded monthly if the value of the account is to reach

a) How much must be placed each month into a retirement account earning 13% compounded monthly if the value of the account is to reach $ 1,000,000 in 20 years? Answer = $

b) If the account continues to earn 13% after retirement, how much per year will the account earn? HINT: In other words, "What is the interest amount of $ 1,000,000?" Answer = $

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