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How much should you deposit at the end of each month

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Reference no: EM131057505

Question - Solve the Question. Round up the deposit to the nearest dollar. Show your set yp in the formula and then the answer.

(A(r/n)/[(1+(r/n))nt - 1])

How much should you deposit at the end of each month into an IRA that pay a 6.5% compounded monthly to have $4 million when you retire in 45 years? How much of the $4 million comes from interest?

Reference no: EM131057505

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