SOLUTION: Suppose you want to have $500,000 for retirement in 20 years. Your account earns 6% annual interest compounded monthly.
a) How much would you need to deposit in the account at
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-> SOLUTION: Suppose you want to have $500,000 for retirement in 20 years. Your account earns 6% annual interest compounded monthly.
a) How much would you need to deposit in the account at
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Question 1148955: Suppose you want to have $500,000 for retirement in 20 years. Your account earns 6% annual interest compounded monthly.
a) How much would you need to deposit in the account at the end of each month?
b) How much interest will you earn?
