Suppose you want to have $700,000 for retirement in 25 years. Your account earns 7% interest...

Suppose you want to have $700,000 for retirement in 25 years. Your account earns 7% interest compounded monthly. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $

Expert Solution

NO INTERMEDIATE ROUNDING IS DONE AS NOTHING IS MENTIONED. IF WE ROUND THE FIGURES : (a) 864 (b) 440764

jeff jeffy answered 4 months ago

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