At age 25, you want to set up an ira (individual retirement account) in order to have
$1 million by the time you retire. you anticipate to have an annual rate of return of
7%. if you want to retire at the age of 65 and make regular monthly payments, then
what monthly deposit would you need to make in order to make exactly $1 million by
the time you retire at 65. round your answer to the nearest cent.