How much must you deposit every three months

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Reference no: EM132058617

You wish to retire with $4,100,000 in exactly 47 years. You can put your money into a bank account that pays APR of 8.8%, compounded 4 times per year.

Assuming that you do not have to pay any taxes on this money, how much must you deposit every three months, starting three months from today, to reach your goal?

Reference no: EM132058617

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