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How much must you deposit monthly in an account paying

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Question - Suppose your personal financial goal is to retire with at least a million dollars in your savings account in 43 years. How much must you deposit monthly in an account paying an annual interest rate of 6.41% a year (with interest being compounded monthly and your deposits occurring at the end of the month), to accumulate $1,350,783 in 43 years?

Reference no: EM133077825

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