Todahl6882 Todahl6882

03-06-2023
Business

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You plan to retire with $1,000,000 savings. How much should you deposit monthly into a retirement saving account that pays 14 percent annual interest if you plan to retire in 20 years? (Note: Compounding matches the deposit frequency. Answers are rounded.)
A. $5,089
B. $2,385
C. $1,159
D. $573
E. $1,651
F. $769
G. $371
H. $182

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