How much should you deposit at the end of each month into an

Last updated: 7/18/2022

How much should you deposit at the end of each month into an investment account that pays 7% compounded monthly to have $5 million when you retire in 38 years? How much of the $5 million comes from interest? Click the icon to view some finance formulas. In order to have $5 million in 38 years, you should deposit $ each month. (Round up to the nearest dollar.)