Suppose you have $500,000 for retirement in 20 years.Your account earns 6% interest. How much would you need to deposit in the account each month?

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asked Aug 2, 2022 138k views

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Renaud Favier · Answer 1 · 2022-08-06T08:21:22+0000

Answer:

30,000

Explanation:

What I did was 6 divided by 100 and I got 0.06 times the the 500,000 and got 30,000 so your answer should be 30,000. Hope this helps and let me know if I'm wrong. have a great day!

Suppose you have $500,000 for retirement in 20 years.Your account earns 6% interest. How much would you need to deposit in the account each month?

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