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You want to have 120 000 in an account after 40 years for your retirement...

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Basic Math

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You want to have 120 000 in an account after 40 years for your retirement Your investment counselor suggests that you make regular monthly deposits into an annuity that pays 4 25 interest compounded monthly Find the amount that must be deposited monthly rounded to the nearest cent Periodic Deposit P 1 40 95 2 68 39 3 288 90 4 171 nxt 4 95 34

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