How much should you deposit at the end of each month into an IRA that pays 8.5% compounded monthly to have $4 million when you retire in 45 years? How much of the $4 million comes from interest? Group of answer choices $641; $346,140 $3045; $3,512,800 $3045; $487,200 $641; $3,653,860

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Q: You deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in…

A: From the provided information FV=P*((1+r)n-1r)FV=4000*((1-0.02)5-10.02)FV=20816