son If you would like to have $400000 for your retired and you save equal amount monthly in a saving account for 30 years, how much money (to the nearest dollar) should you save monthly to the account with 3.5% interest compounded monthly? O a. $671 O b. $615 OC. $663 O d. $598 O e. $630

son If you would like to have $400000 for your retired and you save equal amount monthly in a saving account for 30 years, how much money (to the nearest dollar) should you save monthly to the account with 3.5% interest compounded monthly? O a. $671 O b. $615 OC. $663 O d. $598 O e. $630

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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ion
If you would like to have $400000 for your retired and you save equal amount monthly in a saving account for 30 years, how much
money (to the nearest dollar) should you save monthly to the account with 3.5% interest compounded monthly?
O a. $671
O b. $615
O c. $663
O d. $598
O e.
$630
a

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