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8) (4 pts) You have $30,000 in a retirement account and want to deposit $700 per month for the next 50 years into the account
8) (4 pts) You have $30,000 in a retirement account and want to deposit $700 per month for the next 50 years into the account as your retirement plan. How much do you have in your retirement account at the end of 50 years if you earn an average APR of 6% compounded monthly on your account? PV: 30,000 PMT: 700 n: 1000 FV: 8.631 800.39 $ 8.681 220.39 E2)
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
13th International Edition
1265533199, 978-1265533199
