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Homework answers / question archive /  A man wants to accumulate a 5350000 retirement fund

 A man wants to accumulate a 5350000 retirement fund

Finance

 A man wants to accumulate a 5350000 retirement fund. He plans to make the first payment on Jun 1, 1984, and the last on September 1, 2005. Find the size of each deposit if he makes the deposit monthly rate J12-12% O a. 5290.96 O b. $327.77 O 512,975.72 O d. $287.84 

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We see that the monthly deposits=PMT(12%/12,256,0,-PV(12%/12,1,0,-350000),1)
=290.96

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