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In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.
How much must you invest each month in a mutual fund yielding 13.9% compounded monthly to become a millionaire in 10 years? (Round your answer to the nearest cent.)
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Financial Markets and Institutions
Authors: Jeff Madura
11th Edition
1133947875, 9781305143005, 1305143000, 978-1133947875
