You want to retire exactly 35 years from today with $1,990,000 in your retirement account. If you think you can earn an interest rate of 10.23 percent compounded monthly, how much must you deposit each month to fund your retirement? Multiple Choice O O $580.31 $4,738 10 $526.79 $489.69

You want to retire exactly 35 years from today with $1,990,000 in your retirement account. If you think you can earn an interest rate of 10.23 percent compounded monthly, how much must you deposit each month to fund your retirement? Multiple Choice O O $580.31 $4,738 10 $526.79 $489.69

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

You want to retire exactly 35 years from today with $1,990,000 in your retirement account. If you think you can earn an interest rate of 10.23 percent
compounded monthly, how much must you deposit each month to fund your retirement?
Multiple Choice
O
O
$580.31
$4,738.10
$526.79
$489.69
$493.87

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