If the interest rate is 6 percent how much more are mos, Financial Management

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If the interest rate is 6 percent how much more are mos

1. You want to retire exactly 35 years from today with $1,900,000 in your retirement account. If you think you can earn an interest rate of 9.87 percent compounded monthly, how much must you deposit each month to fund your retirement?

2. Mo will receive a perpetuity of $16,000 per year forever, while Curly will receive the same annual payment for the next 35 years. If the interest rate is 6 percent, how much more are Mo's payments worth?

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