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Mr. Williams expects to retire in 30 years and would like to accumulate $1 million in his pension fund. If the annual interest rate is

Mr. Williams expects to retire in 30 years and would like to accumulate $1 million in his pension fund. If the annual interest rate is 12 percent, the amount Mr. Williams needs to put into his pension fund each month is:

A. None of the above

B. $437.13

C. $286.13

D. $345.30

E. $771.60

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