How much will you have to deposit every month

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Question - You plan to retire in 40 years with $1 million. You have an investment available that provides a rate of return of 6.5% per year, compounded monthly. How much will you have to deposit every month into this investment account to reach your retirement goal?

A. $605.80

B. $380.98

C. $437.90

D. $502.14

E. $670.98

F. $742.15

Reference no: EM132049709

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