suppose you have an account that will grow to $255,000.00 in 18 years. It grows at 4.8% annual interest, compounded monthly,

Question

suppose you have an account that will grow to $255,000.00 in 18 years. It grows at 4.8% annual interest, compounded monthly, under the current investment strategy. The owner of the account, however, wants it to have $402,000.00 after 18 years. How much additional monthly contribution should they make to meet their goal?

Kunduz · Accepted Answer

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