John and Diane need to have $397,000.00 available for retirement. How much will they have to invest every month into an account earning an annual interest rate of 4.42% compounded monthly if they invest for 10 years? If they invest for 12 years? If they invest for 24 years? Afrer 10 years? After 12 years? After 24 years? (Note: Include a dollar sign in your answers. Round your answers to the nearest penny.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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John and Diane need to have $397,000,00 available for retirement. How much will they have to invest every month into
an account earning an annual interest rate of 4.42% compounded monthly if they invest for 10 years? If they invest for
12 years? If they invest for 24 years?
After 10 years?
After 12 years?
After 24 years?
(Note: Include a dollar sign in your answers. Round your answers to the nearest penny.)
Transcribed Image Text:John and Diane need to have $397,000,00 available for retirement. How much will they have to invest every month into an account earning an annual interest rate of 4.42% compounded monthly if they invest for 10 years? If they invest for 12 years? If they invest for 24 years? After 10 years? After 12 years? After 24 years? (Note: Include a dollar sign in your answers. Round your answers to the nearest penny.)
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