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OpenStudy (anonymous):
You would like to have $1,000,000 in 33 years by making regular deposits at the end of each month in an annuity that pays 7% compounded monthly. Determine the deposit at the end of each month. Do not round until the final answer. Then round to the nearest dollar as needed.
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OpenStudy (anonymous):
Did you have to learn a formula to find the answer ? A= P(1+r)^n or something like that?
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