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What principle or balance will account need to maintain

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Question 1: Supposed you have estimated that you will need 2500 per month in your retirement to meet your expenses and live comfortably, and that you have found or chosen a fund (account) which pays monthly interest 4%APR. What principle, or balance, will your account need to maintain in order to be able to pay this amount each month? round to the nearest cent

Reference no: EM132519082

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