Return compounded monthly in the stock market

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Reference no: EM13971816

You are currently 25 years old and wish to retire at age 65 with $1.5 million dollars. You believe that you will be able to get a 7% rate of return compounded monthly in the stock market by investing in the Wilshire 5000 (VTI). How much money will you need to deposit each month starting tomorrow if you currently have $10,000 in VTI?

Reference no: EM13971816

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