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12 Megan turns 30 years old today. She currently has $25,000 in her account. She must make monthly deposits of $____ beginning next month and
12
Megan turns 30 years old today. She currently has $25,000 in her account. She must make monthly deposits of $____ beginning next month and ending on her 65th birthday (420 total deposits) in order to reach her retirement goal of making monthly withdrawals of $10,000 per month beginning one month after her 65th birthday and ending on her 90th birthday at which time she wants to have $1,100,000 remaining in her account. Assume a 7% p.a. interest rate. 1) 761.63 2) 775.23 3) 740.21 04) 751.93 Step by Step Solution
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