Mathematics, 21.04.2020 22:41 chiquita77

After working for 25 years you would like to have $ 700,000 in an annuity for early retirement. If the annual interest rate is 7.5 %, compounded monthly, what will your monthly deposit need to be?
A. $797.94
B. $977.44
C. $1595.88
D. $2426.70

Answers: 1

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After working for 25 years you would like to have $ 700,000 in an annuity for early retirement. If the annual interest rate is 7.5 %, compounded monthly, what will your monthly deposit need to be? A. $797.94 B. $977.44 C. $1595.88 D. $2426.70

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Other questions on the subject: Mathematics

Questions in other subjects:

After working for 25 years you would like to have $ 700,000 in an annuity for early retirement. If the annual interest rate is 7.5 %, compounded monthly, what will your monthly deposit need to be?
A. $797.94
B. $977.44
C. $1595.88
D. $2426.70