Suppose you want to have $400,000 for retirement in 30 years. Your account earns 8% interest.a) How much would you need to deposit in the account each month?$b) How much interest will you earn?$
Suppose you want to have $400,000 for retirement in 30 years. Your account earns 8% interest.a) How much would you need to deposit in the account each month?$b) How much interest will you earn?$
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Suppose you want to have $400,000 for retirement in 30 years. Your account earns 8% interest.
a) How much would you need to deposit in the account each month?
$
b) How much interest will you earn?
$
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