Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. Round your answers to the nearest cent. a) How much would you need to deposit in the account each month? $ 301.47 b) How much interest will you earn?
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10 / 12 = 0.00833) n = number of months (25 years * 12 months/year = 300 months) Show more…
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