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OpenStudy (anonymous):
What amount would i need to deposit today to receive $1500 a month for 15 years from an account that will earn 6%?
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OpenStudy (anonymous):
What formula are you learning right now?
OpenStudy (anonymous):
Since $1,500 monthly for 15 yrs: $270,000 = P ( 1 + .06/ 12 ) ^180 => P = $270,000 / 2.45 = $110,020
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