You plan to retire with $8,000,000 in 45 years. How much should you deposit each month into an account that pays 9% annual rate compounded monthly? | Cheap Nursing Papers
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You plan to retire with $8,000,000 in 45 years. How much should you deposit each month into an account that pays 9% annual rate compounded monthly?

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You plan to retire with $8,000,000 in 45 years. How much should you deposit each month into an account that pays 9% annual rate compounded monthly? (Note: Compounding frequency is the same as the deposit frequency. Answers are rounded.)

A.$2,056

B.$1,198

C.$1,709

D.$1,080

E.$1,276

F.$1,124

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