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?

 

Answer rating: 100% (QA)

Answer To solve this problem we need to find the monthly deposit amount that will res... View the full answer