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Business, 21.10.2020 16:01 Olive9397

Mr. Baxter IV, would like to retire in 26 years. He would like to accumulate $1,500,000 at the time of retirement to live a contented life. He would like set aside equal amount each month to achieve his goal. What is the monthly amount he should save if he can invest them at an interest rate of 11.1% [Annual rate]. [Assume monthly compounding]

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Mr. Baxter IV, would like to retire in 26 years. He would like to accumulate $1,500,000 at the time...
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