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possible Submit Test Marcus plans to retire in 30 years. He will make 15 years (180 months) of equal monthly payments to his retirement account.
possible Submit Test Marcus plans to retire in 30 years. He will make 15 years (180 months) of equal monthly payments to his retirement account. Fifteen years after his last contribution, he will begin the first of 180 months of withdrawals of $2500 per month. Assume that the retirement account earns interest of 72% compounded monthly for the duration of his contributions, the 15 years in between his contributions and the beginning of his withdrawals, and the 15 years of withdrawals. How large must Marcus's monthly contributions be in order to accomplish his goal? Write the equation to determine the future value of Marcus's retirement plan after 15 years FV=PMT (Type integers or decimals) The amount of his monthly contributions must be $ (Do not round until the final answer. Then round to the nearest cent as needed)
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