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Your rich uncle gave you $10,000 today on your 20th birthday. You want to invest the money and then start making monthly deposits, beginning one
Your rich uncle gave you $10,000 today on your 20th birthday. You want to invest the money and then start making monthly deposits, beginning one month from today, so that you will accumulate $500,000 by the time you are 60 years old. You believe that you can earn 8% on your investment. How much will you have to deposit each month to reach your goal of $500,000 by your 60th birthday?
$126 - $150
More than $150
$76 - $100
Less than $75
$101 - $125
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