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Month into a retirement account earning

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How much must be placed each month into a retirement account earning 12% compounded monthly if the value of the account is to reach $ 1,000,000 in 25 years? Answer = $ ??

If the account continues to earn 12% after retirement, how much per year will the account earn (assuming the interest is withdrawn each month)? Answer = $ ??

Reference no: EM131721392

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