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Suppose you want to have $400,000 for retirement in 25 years. Your account earns 8% interest. How much would you need to deposit in the account each month?
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4 votes
Suppose you want to have $400,000 for retirement in 25 years. Your account earns 8% interest. How much would you need to deposit in the account each month?

User Themefield
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1 Answer

6 votes

Answer:

fv =$400,000

r-.08

yr-25=$1280

Step-by-step explanation:

User DejanLekic
by
4.2k points
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