What annual interest rate would you need to earn if you wanted a $4,575 per month contribution

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What annual interest rate would you need to earn if you wanted a $4,575 per month contribution starting 1 month from today to grow to $1,644,350 in 17 years (Assume monthly compounding and that you are starting with no savings)?"

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Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

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Posted Date: Apr 20, 2024 05:19 PM

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What annual interest rate would you need to earn if you wanted a $4,575 per month contribution

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To calculate the annual interest rate needed to achieve the desired growth we can use the formula fo... View the full answer

Finance Applications and Theory

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