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You plan to retire with $800,000 in 20 years.How much should you deposit each month into an account that pays 9.5% annual rate compounded monthly?
- You plan to retire with $800,000 in 20 years.How much should you deposit each month into an account that pays 9.5% annual rate compounded monthly? (Note: Compounding frequency is the same as the deposit frequency. Answers are rounded.)
- $1,198
- $2,056
- $1,709
- $1,080
- $1,124
- $1,276
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