Suppose you want to have $800,000 for retirement in 20 years. Your account earns 8% interest. How much would you need to deposit in the account each month?

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Roel Van Westerop asked May 27, 2022

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Suppose you want to have $800,000 for retirement in 20 years. Your account earns 8% interest. How much would you need to deposit in the account each month?

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Roel Van Westerop asked May 27, 2022

by Roel Van Westerop

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26 votes

Answer:

$40,000

Explanation:

this the workings above

Suppose you want to have $800,000 for retirement in 20 years. Your account earns 8% interest-example-1

Tobias Reich answered Jun 3, 2022

by Tobias Reich

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