How large will your monthly deposits need to be, Finance Basics

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How large will your monthly deposits need to be

Problem

You want to retire in 27 years, and you've decided you will deposit an equal amount in your account at the beginning of each month until you retire. If you want to have $4,200,000 in your account at that time, and your account will earn a 3.7% annual interest rate, how large will your monthly deposits need to be?

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Finance Basics: How large will your monthly deposits need to be

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