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Rick Richards plans to retire in 25 years. He can afford to save of $500 a month into an account that pays an interest
Rick Richards plans to retire in 25 years. He can afford to save of $500 a month into an account that pays an interest of 8% compounded monthly. How much money can he save for his retirement?
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To calculate the future value of the savings account we can use the formula FV PMT 1 rnnt 1 rn ...
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Financial Algebra advanced algebra with financial applications
Authors: Robert K. Gerver
1st edition
978-1285444857, 128544485X, 978-0357229101, 035722910X, 978-0538449670
