8. At age 35, you start saving for retirement. If your investment plan pays an APR of 6% and you want to have $1 million when you retire in 30 years, how much should you deposit monthly? (Please round your answer to 2 decimal places.)

8. At age 35, you start saving for retirement. If your investment plan pays an APR of 6% and you want to have $1 million when you retire in 30 years, how much should you deposit monthly? (Please round your answer to 2 decimal places.)

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 11E

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Question

Subject: finance

8. At age 35, you start saving for retirement. If your investment plan pays an APR of 6% and you want
to have $1 million when you retire in 30 years, how much should you deposit monthly?
(Please round your answer to 2 decimal places.)

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