Final Accounts and Concept of Trading Questions and Answers
![Suppose you want to have $700,000 for retirement in 35 years. Your account earns 5% interest. Round your answers to the nearest cent.
a) How much would you need to deposit in the account each month?
b) How much interest will you earn?](https://media.kunduz.com/media/sug-question/raw/61024132-1657296910.812585.jpeg?w=256)
Accounting
Final Accounts and Concept of TradingSuppose you want to have $700,000 for retirement in 35 years. Your account earns 5% interest. Round your answers to the nearest cent.
a) How much would you need to deposit in the account each month?
b) How much interest will you earn?
1