Realistic to invest each month for retirement

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Reference no: EM131949937

1. It is more realistic to invest each month for retirement at age 67 if you are now 25. Assume you can find an investment that will pay 3% annually and you want to accumulate $1,000,000. How much would you need to invest each month?

2. Find the interest earned if $2750 is deposited on June 12 and withdrawn on August 30. Assume 3.5% interest compounded daily.

Reference no: EM131949937

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