Rick Richards plans to retire in 25 years. He can afford to save of $500 a...
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Rick Richards plans to retire in 25 years. He can afford to save of $500 a month into an account that pays an interest of 8% compounded monthly. How much money can he save for his retirement? Rick Richards plans to retire in 25 years. He can afford to save of $500 a month into an account that pays an interest of 8% compounded monthly. How much money can he save for his retirement?
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Answer rating: 100% (QA)
To calculate the future value of the savings account we can use the formula FV PMT 1 rnnt 1 rn ... View the full answer
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
Posted Date:
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