Pena Ramos
07/30/2024 · Junior High School

Suppose you want to have \( \$ 300,000 \) for retirement in 25 years. Your account earns \( 4 \% \) interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn? Question Help: \( \square \) Video Submit Question

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You would need to deposit approximately $593.07 each month to reach your goal. The total interest earned would be approximately $122,079.

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