Suppose you want to have $500,000 for retirement in 30 years. Your account earns 9% interest. a) How much would you need to deposit in the account each month? S b) How much interest will you earn? $

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 14PTTS
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Question
Suppose you want to have $500,000 for retirement in 30
years. Your account earns 9% interest.
a) How much would you need to deposit in the account
each month?
$
b) How much interest will you earn?
$
Transcribed Image Text:Suppose you want to have $500,000 for retirement in 30 years. Your account earns 9% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $
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