Ross has decided that he wants to build enough retirement, Ask an Expert

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Ross has decided that he wants to build enough retirement wealth that, if invested at 5 percent per year, will provide him with $4,700 of monthly income for 25 years. To date, he has saved nothing, but he still has 15 years until he retires.

How much money does he need to contribute per month to reach his goal? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Contribute per month $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92759520

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