How much should you deposit each month to reach your goal

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Reference no: EM131448468

After graduating from IU, you are hired by a company that offers a 401(k) retirement plan. You would like to save enough in this plan so that when you retire in 43 years you have an account balance of dollar 1 million. You plan to make monthly contributions, and expect an annual return of 6 percentage, compounded monthly. How much should you deposit each month to reach your goal?

Reference no: EM131448468

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