Question: Ashley estimates she will need to have $ 1 , 2 0 0 , 0 0 0 in 3 5 years for her retirement. Part

Ashley estimates she will need to have $1,200,000 in 35 years for her retirement.
Part A: Assuming no savings to date for this goal, she will have to save _________ monthly to meet the goal if she can earn 8% on her investment.
Part B: On the other hand, if Ashley gets an inheritance of $150,000 from her grandmother, how much of it would she have to set aside in a lump sum with the same 8% investment to achieve her $1,200,000 goal in 35 years (assuming yearly compounding)?
Group of answer choices
A. $523; $73,653
B. $6,964; $73,653
C. $523; $81,161
E. $3,294; $150,000
D. $3,294; $10,522

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