Make sure you enter the number as positive value

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You set up a trust fund to tide you over for the next twenty years. You deposited $751,000 in the account and you will be able to withdraw $1,000 per month for the next twenty years. At the end of twenty years, you don't get any more money, but whatever amount remains in the account value is going to be donated to Cancer research in your honor. If the account earns 5.9 percent per year, compounded monthly, how much will the Cancer Research receive twenty years from now? Calculate to the nearest dollar and make sure you enter the number as a positive value. Pleas show all work.

Reference no: EM132045937

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