on 3 a) Max Meyer is 59 years old. He has always earned a good income and has always lived very well. As a result, Max has some wonderful memories but, unfortunately, no retirement savings. Now, with six years to go before retirement, he has vowed to "catch up", Max wants to have $225,000 accumulated when he starts retirement. He plans to save $2,150 at the END of each month until then and estimates that he can earn 8.25% compounded monthly. Will Max reach his goal in time for his planned retirement date? N= Remember to show 5 decimal places! (and 8-25 no percent sign) i/y= PV= O 1) How much will he have accumulated if he invests according to his pl PMT= ? FV= |2251000 2) Will this meet his goal? (Move the rounded rectangle to make your YES or NO b) Compute the amount that he is over or short of his goal. Show work here: c) Using the $2,150 monthly contribution amount, approximately how long (in years) would it take Max to achieve the $225,000 goal at the 8.25% rate, compounded monthly? N= What did you compute for N? i/y= PV= Is N in years, months or days? PMT= FV= How many years? (to two places) Remember to enter payment Show work here: as a negative amount! Problem continues next page