Compounded monthly to meet her retirement goal

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Reference no: EM131262315

Jennifer is the owner of a video game and entertainment software retail store. She is currently planning to retire in 30 years and wishes to withdraw $10,000/month for 20 years from her retirement account starting at that time. How much must she contribute each month for 30 years into a retirement account earning interest at the rate of 4%/year compounded monthly to meet her retirement goal? (Round your answer to the nearest cent.) $

Reference no: EM131262315

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