You Are Planning Your Retirement and You Come to the Conclusion

Multiple Choice

You are planning your retirement and you come to the conclusion that you need to have saved $1,250,000 in 30 years.You can invest into an retirement account that guarantees you a 5% return.How much do you have to put into your account at the end of every month to reach your retirement goal?

A) $1567.86
B) $1,501.94
C) $3,472.22
D) $2,526.27