Question: Suppose your friend, John will start his retirement saving when he will be 25 years old. Assuming he will retire at age 70 and wants

Suppose your friend, John will start his retirement saving when he will be 25 years old. Assuming he will retire at age 70 and wants to have 1.5 million dollars from the 40 years of the retirement savings. Suppose he will deposit same amount at the end of each month and the retirement account will earn 7.8% per year. Find how much he should deposit each month to achieve his goal.

	A.	$590.28
	B.	$606.94
	C.	$304.02
	D.	$465.21
	E.	$790.25

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