Question

suppose you want to have $400,000 for retirement in 20 years. your account earns 5% interest. a) how much would you need to deposit in the account each month

Answer 1

suppose you want to have $400,000 for retirement in 20 years. your account earns 5% interest. a) how much would you need to deposit in the account each month Your account earns 7.9% interest" How often is it compounded? Daily? Monthly? Annually? Since we are going to find out how much you have to save per month I will assume that the interest is compounded monthly

What is retirement ?

Retirement is the cessation of one's employment, occupation, or active working life. Another way to semi-retire is to work fewer hours or with less job.

When they are old or unable to work due to health issues, many people decide to retire. People may also retire when they are eligible for private or public pension benefits, while others are compelled to do so due to legislation governing their jobs or because their physical conditions make it impossible for them to continue working (due to disease or accidents). The concept of retiring was first popularized in the late nineteenth and early twentieth centuries in the majority of nations.

To learn more about retirement  from the given link:

brainly.com/question/3605610

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