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August 22, 2014

Homework Help: algebra

Posted by beech on Tuesday, October 11, 2011 at 9:58am.

3. Suppose a student wants to be a millionaire in 40 years. If she has an account that pays 8% interest compounded monthly, how much must she deposit each month in order to achieve her goal of having $1,000,000? What is the present value of this annuity?

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