4 pts
The company you work for will deposit 600 at the end of each month
into your retirement fund Interest is compounded monthly. You plan to
retire 15 years from now and estimate that you will need 2,000 per
month out of the account for the next 20 years. If the account pays
8.0% compounded monthly, how much do you need to put into the
account in addition to your company deposit in order to meet your
objective?
0.00
57.59
90.99
95.88
104.49