2
QuizMultiple Choice

Annuities

Question 2 • FT GMS AMDM B IC – 72

At age 35 you start saving for retirement. If your investment plan pays an APR of 6% and you want to have $1.5 million when you retire in 30 years, how much should you deposit monthly? Assume an ordinary annuity.a.$1,453.26c.$1,483.26b.$1,463.26d.$1,493.26

Answer
A
A
B
B
C
C
D
D
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At age 35 you start saving for retirement. If…