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Today is Derek's 25th birthday. Derek has been advised that he needs to have $3,880,230.00 in his retirement account the day he turns 65. He
Today is Derek's 25th birthday. Derek has been advised that he needs to have $3,880,230.00 in his retirement account the day he turns 65. He estimates his retirement account will pay 6.00% interest. Assume he chooses not to deposit anything today. Rather he chooses to make annual deposits into the retirement account starting on his 29.00th birthd- and ending on his 65th birthday. How much must those deposits be? Submit Answer format: Currency: Round to: 2 decimal places
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