Suppose you want to have $ 7 0 0 , 0 0 0 for retirement in 2 0 years Your account earns 4 interest a ) How much would you need to deposit in the account each month b ) How much interest will you earn

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Posted on May 19, 2024

Suppose you want to have $ 7 0 0 , 0 0 0 for retirement in 2 0 years. Your account earns 4 % interest.

Suppose you want to have $

700, 000

for retirement in

20

years. Your account earns

4 %

interest.

)

How much would you need to deposit in the account each month?

)

How much interest will you earn?

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