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How much should Marie monthly payments be

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Question - Marie, an employee at McCormick, has determined that she will need $5000 per month in retirement over a 30-year period. She has forecasted that her money will earn 7.2% compounded monthly. Marie will spend 25-years working toward this goal investing monthly at an annual rate of 7.2%. How much should Marie's monthly payments be during her working years in order to satisfy her retirement needs?

Reference no: EM132768382

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