At age 20 when you graduate, you start saving for retirement. If your investment plan pays an APR of 4.5% and you want to have $5 million when you retire in 45 years, how much should you deposit monthly?
At age 20 when you graduate, you start saving for retirement. If your investment plan pays an APR of 4.5% and you want to have $5 million when you retire in 45 years, how much should you deposit monthly?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 35P
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At age 20 when you graduate, you start saving for retirement. If your investment plan pays an APR of 4.5% and you want to have $5 million when you retire in 45 years, how much should you deposit monthly?
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