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Suppose your personal financial goal is to retire with at least a million dollars in your savings account in 43 years. How much must you
Suppose your personal financial goal is to retire with at least a million dollars in your savings account in 43 years. How much must you deposit monthly in an account paying an annual interest rate of 5.64% a year (with interest being compounded monthly and your deposits occurring at the end of the month), to accumulate $1,479,846 in 43 years? (Note: Assume that you started with no savings in the account prior to your first deposit.) Answer should be formatted as a dollar amount rounded to the nearest cent (e.g.999.99)
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