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Person A

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Person A. Annual Salary: $59,420 Monthly: $4,951.67 Person B. Annual Salary:$23,000 Monthly Salary:$1,916.67

1.  1)  Assume 6.5% is saved for retirement with 5.99% APR (as in previous problems).

·       How much money would you need to save each month to reach one million dollars in 30 years? 

·       Is this a feasible monthly payment for the job you have chosen?

Use an absolute or relative change sentence comparing the money needed to reach one million dollars and the money you already are saving with 6.5%.