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suppose a woman has decided to retireas soon as she has saved $1,000,000. her plan is...

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Basic Math

suppose a woman has decided to retireas soon as she has saved$1,000,000. her plan is to put $600 each month into the ordinaryannuity that pays an annual interest rate of 4.4%. in how manyyears will ahe be able to retire? (round to the nearest year asneeded).

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3.8 Ratings (354 Votes)
Data givenAmount of each monthly annuity payment M 600Rate of interest per annum r 44Future value of ordinary annuity FV 1000000Time    See Answer
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