# A young executive deposits $300 at the end of each month for 8 years and then increases the deposits. If

## Question:

If the account earns 7.2%, compounded monthly, how much (to the nearest dollar) should each new deposit be in order to have a total of $400,000 after 25 years?

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**Related Book For**

## Mathematical Applications for the Management Life and Social Sciences

**ISBN:** 978-1305108042

11th edition

**Authors:** Ronald J. Harshbarger, James J. Reynolds

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