Your client wants to accumulate $1,000,000 over the next 25 years by investing the same amount at

Question:

Your client wants to accumulate $1,000,000 over the next 25 years by investing the same amount at the beginning of each month. If she can expect a long-term rate of return of 8% compounded annually, how much must she invest each month? (Taken from CIFP course materials.)