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Bob and Kathy want to save a total of $500,000 for retirement. How much should they deposit monthly into an account that pays 3.9% interest, compounded monthly, to meet their goal in 24 years? $1,051.17
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Bob and Kathy want to save a total of $500,000 for retirement. How much should they deposit monthly into an account that pays 3.9% interest,

compounded monthly, to meet their goal in 24 years?
$1,051.17
$2,102.34
$950.41
$4,446.41

User PaoloVictor
by
8.2k points

1 Answer

5 votes

Answer:

it would 4,446.41

Explanation:

User BossRoss
by
8.0k points
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