Sergio plans to retire in 15 years. He would like to have $250,000 in his retirement account. If he invests in a plan that pays 4.69% interest compounded monthly, how much should he contribute monthly? a. $138.89 b. $277.88 c. $959.77 d. $560.23
Sergio plans to retire in 15 years. He would like to have $250,000 in his retirement account. If he invests in a plan that pays 4.69% interest compounded monthly, how much should he contribute monthly? a. $138.89 b. $277.88 c. $959.77 d. $560.23
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 13PROB
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Sergio plans to retire in 15 years. He would like to have $250,000 in his retirement account. If he invests in a plan that pays 4.69% interest compounded monthly, how much should he contribute monthly?
a. $138.89 b. $277.88 c. $959.77 d. $560.23
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