Solution-How much money will you have to deposit each month

How much money will you have to deposit each month

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You just turned 30 and decide that you would like to save up enough money so as to be able to withdraw $75,000 per year for 20 years when you retire at age 65, with the first withdrawal starting on your 66th birthday. How much money will you have to deposit each month into an account earning 8% per year (interest compounded monthly), starting one month from today, to accomplish this goal ?

Reference no: EM131150001

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How much money will you have to deposit each month : How much money will you have to deposit each month into an account earning 8% per year (interest compounded monthly), starting one month from today, to accomplish this goal ?

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How much money will you have to deposit each month

Reference no: EM131150001

Reference no: EM131150001

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