You'd like to buy a winery when you retire in 25 years. You estimate that in 25 years you'll need $10,000,000 to do so. If you can earn 12% per year (compounded monthly), how much will you need to invest each month (for 25 years) in order to reach your goal?
$2,300.68
$3,576.82
$4,811.22
$5,322.41