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A client with no current savings desires to accumulate $1,500,000 over the next 25 years by making equal monthly deposits, starting one month from today.
A client with no current savings desires to accumulate $1,500,000 over the next 25 years by making equal monthly deposits, starting one month from today. What is the monthly dollar deposit if using a fund expected to earn 12% APR compounded monthly?
Suppose you have $32,000 in current savings in an account expected to earn 9% APR compounded monthly. Starting next month, you decide to deposit $375 each month for the next 35 years into the same account. Altogether, how much money should you have 35 years later?
please answer both
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