1. b. Suppose you want to have $500,000 for retirement in 30 years. Your account earns 4% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $
1. b. Suppose you want to have $500,000 for retirement in 30 years. Your account earns 4% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 19E
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1. b. Suppose you want to have $500,000 for retirement in 30 years. Your account earns 4% 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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