SOLUTION: if you deposit $400 each month into a retirement account that earns 6% interest rate. Compounded monthly, how long will it take to have $1,000,000 to retire with?

Question 1140932: if you deposit $400 each month into a retirement account that earns 6% interest rate. Compounded monthly, how long will it take to have $1,000,000 to retire with?
Answer by greenestamps(13195) (Show Source): You can put this solution on YOUR website!

A = future value
P = amount of regular contribution
i = periodic interest rate (annual interest rate, divided by the number of compounding periods per year)
n = number of periods

Use a calculator....
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