Marcie wants to have $1,300,000.00 when she retires in 20 years. She wants to make monthly...

 

Transcribed Image Text:

Marcie wants to have $1,300,000.00 when she retires in 20 years. She wants to make monthly deposits into an investment account that pays 4% interest compounded monthly. Round your answers to the nearest cent. a) How much does she need to invest each month? b) How much interest will she earn from this investment? Marcie wants to have $1,300,000.00 when she retires in 20 years. She wants to make monthly deposits into an investment account that pays 4% interest compounded monthly. Round your answers to the nearest cent. a) How much does she need to invest each month? b) How much interest will she earn from this investment?

Answer rating: 100% (QA)

To calculate the monthly deposit amount Marcie needs to make and the interest she will earn we can u... View the full answer