Marie is putting together a retirement plan and is scheduled to retire in 40 years. She is planning to open a retirement account and invest an equal amount each month into the retirement account. If she expects to earn
10.5%
per year in the account and is planning to have
$3,000,000
in the account at retirement, what is the amount of the monthly investment?
$407.11

$474.07

$667.71

$743.34
None of the above

Question

Marie is putting together a retirement plan and is scheduled to retire in 40 years. She is planning to open a retirement account and invest an equal amount each month into the retirement account. If she expects to earn

10.5%

per year in the account and is planning to have

$3,000,000

in the account at retirement, what is the amount of the monthly investment?

$407.11

$474.07

$667.71

$743.34

None of the above

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