cardinaljaylan cardinaljaylan

11-07-2019
Mathematics

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Use the TVM Solver to calculate the amount you should make in monthly payments into an investment account if you want to have $1,000,000 in 60 years. The account pays 3.9% interest compunded monthly and you will make an intial investment of $25,000

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sqdancefan sqdancefan

11-07-2019

Answer:

$257.95

Step-by-step explanation:

We have assumed the payment is made at the end of each month, and the last payment will bring the balance to $1 million.

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