O $418 922.48

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 11PROB
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Hannah's parents need $2000 a month when they retire next month. How
much should they have in their account that earns 4% compounded monthly
right now if they need this money for the next 30 years?
$418 922.48
$57 007.26
$49 999.96
O$439 903.32
Transcribed Image Text:Hannah's parents need $2000 a month when they retire next month. How much should they have in their account that earns 4% compounded monthly right now if they need this money for the next 30 years? $418 922.48 $57 007.26 $49 999.96 O$439 903.32
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