How much should be deposited in an account that will earn at an annual rate of 9%, compounded quarterly, in order to be valued at $150,000 for retirement in 20 years? Round your answer to the nearest cent.
How much should be deposited in an account that will earn at an annual rate of 9%, compounded quarterly, in order to be valued at $150,000 for retirement in 20 years? Round your answer to the nearest cent.
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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