How much should you deposit at the end of each month into an investment account that pays 8.5% compounded monthly to have $1 million when you retire in 35 years. B) How much of that $1 million comes from interest. C) If you anticipate living for 20 years on your retirement savings, how much will you be able to withdraw each month if the account continues to pay 8.5% compounded monthly. I asked this question before with different numbers im not sure why you can't answer this one.
How much should you deposit at the end of each month into an investment account that pays 8.5% compounded monthly to have $1 million when you retire in 35 years. B) How much of that $1 million comes from interest. C) If you anticipate living for 20 years on your retirement savings, how much will you be able to withdraw each month if the account continues to pay 8.5% compounded monthly. I asked this question before with different numbers im not sure why you can't answer this one.
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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A) How much should you deposit at the end of each month into an investment account that pays 8.5% compounded monthly to have $1 million when you retire in 35 years.
B) How much of that $1 million comes from interest.
C) If you anticipate living for 20 years on your retirement savings, how much will you be able to withdraw each month if the account continues to pay 8.5% compounded monthly.
I asked this question before with different numbers im not sure why you can't answer this one.
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