Question: Question 2: You plan to have AED 3 million when you retire, 30 years from today. (a) If your most preferred bank gives you an

 Question 2: You plan to have AED 3 million when you

Question 2: You plan to have AED 3 million when you retire, 30 years from today. (a) If your most preferred bank gives you an interest rate of 2% every month, how much you need to invest every month in your savings account to retire with the AED 3 milliontin 30 years? Assume your first payment in your account will be made in 1 month. (b) If your most preferred bank gives you an interest rate of 2% every month, how much you need to invest every month in your savings account to retire with the AED 3 million in 30 years? Assume your first payment in your account will be made today

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