Marie is putting together a retirement plan and is scheduled to retire in 40 years. She is planning to open a retirement account and invest an equal amount each month into the retirement account. If she expects to earn
10.5%
per year in the account and is planning to have
$3,000,000
in the account at retirement, what is the amount of the monthly investment?
$407.11
$474.07
$667.71
$743.34
None of the above