How much should you invest each month in order to have $800,000 if your rate of...

How much should you invest each month in order to have $800,000 if your rate of return is 3.1% compounded monthly and you want to achieve your goal in 40 years?

a) $

How much interest will you earn?

b) $

How much should you invest each month in order to have $800,000 if you want to achieve your goal in 20 years?

c) $

If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years?

$

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Expert Solution

orchestra answered 1 year ago

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