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View Full Version : Retirement /monthly payments


jrdavis30
Aug 25, 2009, 11:25 AM
Mr. Wise is retiring in 25 years. He would like to accumulate $1,000,000 for his retirement fund by then. He plans make equal monthly payments to achieve his goal. If the rate of return on the retirement fund is 12%, what will his monthly payments be?

ScottGem
Aug 25, 2009, 11:34 AM
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