Solution-Amount contribution at the end of year

Amount contribution at the end of year

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1.) Bill plans to fund his individual retirement account (IRA) with the equal amount contribution at the end of year for the next 20 years. If Bill can earn 12 percent on his contributions and he wants to accumulate $1,000,000 at the end of twentieth year. How much does he need to contribute each year to achieve his goal?

Reference no: EM131228142

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Amount contribution at the end of year

Reference no: EM131228142

Reference no: EM131228142

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