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son If you would like to have $400000 for your retired and you save equal amount monthly in a saving account for 30 years, how much money (to the nearest dollar) should you save monthly to the account with 3.5% interest compounded monthly? O a. $671 O b. $615 OC. $663 O d. $598 O e. $630

son If you would like to have $400000 for your retired and you save equal amount monthly in a saving account for 30 years, how much money (to the nearest dollar) should you save monthly to the account with 3.5% interest compounded monthly? O a. $671 O b. $615 OC. $663 O d. $598 O e. $630

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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ion If you would like to have $400000 for your retired and you save equal amount monthly in a saving account for 30 years, how much money (to the nearest dollar) should you save monthly to the account with 3.5% interest compounded monthly? O a. $671 O b. $615 O c. $663 O d. $598 O e. $630 a
Transcribed Image Text:ion If you would like to have $400000 for your retired and you save equal amount monthly in a saving account for 30 years, how much money (to the nearest dollar) should you save monthly to the account with 3.5% interest compounded monthly? O a. $671 O b. $615 O c. $663 O d. $598 O e. $630 a
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