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With a 7% annual rate of return, compounded monthly, how much will you need to save every month to have $2,000,000 at age 65 if
With a 7% annual rate of return, compounded monthly, how much will you need to save every month to have $2,000,000 at age 65 if you begin saving at age 30 ? Estimate the yield to maturity of a bond that is $1,000 par, semiannual coupon payments, 25 years to maturity, 10% coupon, and is currently selling for $1,200. Note: Show your answer in units of percents, use plain numbers with at least two digits after the decimal (e.g., for 12.34%, type 12.34)
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