ou decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period. You decide to deposit $130 each month into the retirement fund, and retire when you can afford to buy your dream boat, which costs $353,000. How many months will you need to make payments before you can retire? ______________ months. Round to the nearest month.
ou decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period. You decide to deposit $130 each month into the retirement fund, and retire when you can afford to buy your dream boat, which costs $353,000. How many months will you need to make payments before you can retire? ______________ months. Round to the nearest month.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period.
You decide to deposit $130 each month into the retirement fund, and retire when you can afford to buy your dream boat, which costs $353,000. How many months will you need to make payments before you can retire?
______________ months. Round to the nearest month.
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