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Solve. -After Working for 25 Years You Would Like to Have

Question 17

Multiple Choice

Solve.
-After working for 25 years you would like to have $800,000 in an annuity for early retirement. If theannual interest rate is 7.5%, compounded monthly, what will your monthly deposit need to be?


A) $911.93
B) $2666.67
C) $3088.48
D) $1146.98

Correct Answer:

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