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How much should you deposit at the end of each month into an investment account that pays 8% compounded monthly to have $5 million when
How much should you deposit at the end of each month into an investment account that pays 8% compounded monthly to have $5 million when you retire in 37 years? How much of the $5 million comes from interest?
In order to have $5 million in 37 years, you should deposit how much each month?
(Do not round until the final answer. Then round up to the next dollar.)
How much of the $5 million comes from interest?
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