Question: How much does a depositor have to save at the beginning of every month for 30 years to accumulate $1,000,000 if interest is 6% compounded

How much does a depositor have to save at the beginning of every month for 30 years to accumulate $1,000,000 if interest is 6% compounded semi-annually?

A. $1,293.98

B. $1,117.27

C. $1,004.65

D. $1,065.38

E. $1,100.00

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