October 13, 2015

Homework Help: Algebra

Posted by Anonymous on Wednesday, December 7, 2011 at 9:46pm.

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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