Multiple Choice
Find the principal that must be invested at the rate 8%, compounded monthly, so that $1,000,000 will be available for retirement in 50 years.Round your answer to the nearest cent.
A) $250,000.00
B) $18,560.39
C) $717,324.37
D) $333,333.33
E) $21,321.23
Correct Answer:
Verified
Correct Answer:
Verified
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