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In25yearsyouwillneed$500,000for yourretirement(i.e.retirementisactually25yearsaway, andyouwanttohavesaved$500,000)..Ifyouwillmake equalMONTHLYpaymentsattheendofeachMONTH forthenext25yearstofundyourretirement,whatisthe amountoftheMONTHLYpaymentsrequiredtofundyour retirement?Assumethe8%APRdiscountratewith monthlycompoundingforthisquestiononly. 3859 3903 570 526 Insufficientinformationtocompute

In25yearsyouwillneed$500,000for yourretirement(i.e.retirementisactually25yearsaway, andyouwanttohavesaved$500,000)..Ifyouwillmake equalMONTHLYpaymentsattheendofeachMONTH forthenext25yearstofundyourretirement,whatisthe amountoftheMONTHLYpaymentsrequiredtofundyour retirement?Assumethe8%APRdiscountratewith monthlycompoundingforthisquestiononly.

3859

3903

570

526

Insufficientinformationtocompute

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