SOLUTION: How much must be placed each month into a retirement account earning 9% compounded monthly if the value of the account is to reach $ 1,000,000 in 35 years?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: How much must be placed each month into a retirement account earning 9% compounded monthly if the value of the account is to reach $ 1,000,000 in 35 years?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 1206654: How much must be placed each month into a retirement account earning 9% compounded monthly if the value of the account is to reach $ 1,000,000 in 35 years?
Answer by ikleyn(52817) About Me  (Show Source):
You can put this solution on YOUR website!
.

a TWIN problem was solved under this link

https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1206598.html


Consider it as your TEMPLATE and solve this current problem in the same way.