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please solve in the following format, if applicable: FV (future value) = PV (present value) = PMTvend (end payment) = I/YR (interest rate) = N
please solve in the following format, if applicable:
FV (future value) = PV (present value) = PMTvend (end payment) = I/YR (interest rate) = N (periods) =
5. Ardsley Rabinovich, whose 32nd birthday is today, would like to retire to an island paradise when he becomes 70 years old, and estimates that he will need $2.3 Million to make this possible. His investment advisor has recommended an investment which will pay him an APR of 8.92%, compounded monthly Ardsley has told his advisor that the maximum he can invest each month is $650. Will Ardsley be able to reach his goal? If not, how much more would he have to invest each monthStep by Step Solution
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