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You'd like to buy a small ranch when you retire in 30 years. You estimate that in 30 years you'll need $4,000,000 to do so.

You'd like to buy a small ranch when you retire in 30 years. You estimate that in 30 years you'll need $4,000,000 to do so. If you can earn 1% per month, how much will you need to invest each month (for 30 years), starting next month, in order to reach your goal?

  1. $ 858.38
  2. $ 1,144.50
  3. $ 1,430.63
  4. $ 3,130.34
  5. $ 5,334.87 

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