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Solve the Problem $650,000\$ 650,000 In It When She Retires in 27 Years

Question 121

Multiple Choice

Solve the problem.
-Laura wants to start an IRA that will have $650,000\$ 650,000 in it when she retires in 27 years. How much should she invest monthly in her IRA to do this if the interest is 6%6 \% compounded monthly?


A) $28,798.86\$ 28,798.86
B) $792.90\$ 792.90
C) $805.90\$ 805.90
D) $2254.57\$ 2254.57

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