document.write( "Question 1203860: suppose you want to have 500,000 for retirement in 20 years your account earns 4% interest how much would you need to deposit in the account each month \n" ); document.write( "
Algebra.Com's Answer #839738 by Theo(13342)\"\" \"About 
You can put this solution on YOUR website!
calculator used is at https://arachnoid.com/finance/\r
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\n" ); document.write( "\n" ); document.write( "monthly compounding is assumed.
\n" ); document.write( "presen value = 0
\n" ); document.write( "future value = 500,000
\n" ); document.write( "number of time periods = 20 years * 12 = 240 months.
\n" ); document.write( "interest rate per time period = 4% per year / 12 = .333333333....% per month.
\n" ); document.write( "payments are made at the end of each month.
\n" ); document.write( "calculator says that you need to invest 1363.23 at the end of each month so that you can have 500,000 at the end of the investment period.
\n" ); document.write( "here are the results from using the calculator.\r
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