Suppose you want to save $220,000 for retirement. You will do so by putting monthly deposits into an account that gets 5% interest compounded monthly for 30 years. What should your monthly deposits...

Suppose you want to save $220,000 for retirement. You will do so by putting monthly deposits into an account that gets 5% interest compounded monthly for 30 years. What should your monthly deposits be?
Round your answer to the nearest cent and include units. Make sure you show the formula you used and the values you filled in.

Jun 01, 2022

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