Holmes reportedly paid $9,000,000 to get her boyfriend Lamar("Hot Sauce" McDow out of jail. You may think he is a lucky fellow, buy you could accumulate that amount over a period of 20 years by putting aside equal amounts at the beginning of every month. Luckily for you, the historic return on the DJIA over any 20 year period is about 10%. How much would you need to put in your investment account periodically?
Solve the following problem Using the formula.