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You plan to retire with $1,000,000 savings. How much should you deposit monthly into a retirement saving account that pays 14 percent annual interest if
You plan to retire with $1,000,000 savings. How much should you deposit monthly into a retirement saving account that pays 14 percent annual interest if you plan to retire in 25 years? (Note: Compounding matches the deposit frequency. Answers are rounded.)
| A. | $5,089 | |
| B. | $2,385 | |
| C. | $1,159 | |
| D. | $573 | |
| E. | $1,651 | |
| F. | $769 | |
| G. | $371 | |
| H. | $182 |
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