Question: You would like to have $ 2 0 m when you retire 5 0 years later from today. You will invest a certain amount of

You would like to have $

20

m when you retire

50

years later from today. You will invest a certain amount of money monthly in an investment fund. The first amount to be invested is a month from now. The fund is expected to invest your money at the rate of

0.5 %

monthly

(0.5 %

is a monthly rate

)

for

600

months. What equal monthly investments that you must contribute to the fund so as to realize your objective

(

) ?

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