Retirement account pays, Your retirement account pays 8%

Retirement account pays

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Your retirement account pays 8% interest compounded monthly. You plan on having $1 million in the bank on the day you retire. You playing to work for 40 years and then retire. How much were you had to take out of your pay check at the beginning of each month to be able to retire on that amount?

Reference no: EM13722813

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