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URGENT!! PLEASE HELP!! Your pension plan is an annuity with a guaranteed return of 3% per year (compounded monthly). You would like to retire with
URGENT!! PLEASE HELP!! Your pension plan is an annuity with a guaranteed return of 3% per year (compounded monthly). You would like to retire with a pension of $5000 per month for 20 years. If you work 40 years before retiring, how much must you and your employer deposit each month into the fund?
Group of answer choices
$973.54
$901,554.57
$1423.12
$485,923.16
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