Bob wants to set up a monthly deposit account to save for his retirement in 31 years.
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Question:
Bob wants to set up a monthly deposit account to save for his retirement in 31 years. In total, he wants to collect $1131222 when he gets retired. How much he must save monthly to reach his goal, assuming his account gives him a 0.19% effective monthly rate (EMR).
How much he must save monthly?
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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