Posted by **nikki** on Sunday, June 23, 2013 at 7:56pm.

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?

## Answer This Question

## Related Questions

- math - Suppose a student wants to be a millionaire in 40 years. If she has an ...
- algebra - Suppose a student wants to be a millionaire in 40 years. If she has an...
- Algebra - Suppose a student wants to be a millionaire in 40 years. If she has an...
- algebra - 3. Suppose a student wants to be a millionaire in 40 years. If she has...
- algebra - 1. Suppose Mary deposits $200 at the end of each month for 30 years ...
- Finite Mathematics - Jessica wants to accumulate $14,000 by the end of 5 yr in a...
- Compound math - (Future Value) Suppose you invest $8000 into an account that ...
- Math - You deposit $10,000 in an account earning 5% interest, compounded semi-...
- algebra - Suppose Mary deposits $200 at the end of each month for 30 years into ...
- math - This problem has to do with exponential models. The question says, you ...

More Related Questions