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Suppose you want to have $500,000 for retirement in 30 years. Your account earns 5% interest a) How much would you need to deposit in
Suppose you want to have $500,000 for retirement in 30 years. Your account earns 5% interest a) How much would you need to deposit in the account each month? b) How much interest will you earn? c) Suppose you waited 10 years to invest in the same retirement fund and have the same $500,000 for retirement at the same 5% interest. What amount will you have to deposit each month to match the value of your annuity? $ d) Which investment plan is better and why
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