A 25-year-old person wants to accumulate $750.000 by age 60. How much will she need to save each month, starting one month from now, if the interest rate is 0.5% per month? (Write the numeric value only, up to 2 decimal places)

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A 25-year-old person wants to accumulate $750,000 by age 60. How much will she need to save each month, starting one month from now, if the interest rate is 0.5% per month?
(Write the numeric value only, up to 2 decimal places)
ANSWER:
per month
Transcribed Image Text:A 25-year-old person wants to accumulate $750,000 by age 60. How much will she need to save each month, starting one month from now, if the interest rate is 0.5% per month? (Write the numeric value only, up to 2 decimal places) ANSWER: per month
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