8
QuizMultiple Choice

Annuities

Question 8 • FT GMS AMDM B IC – 72

When you graduate college at the age of 20, you want to start saving up for retirement. If your investment pays a fixed APR of 9% and you want to have $2.5 million when you retire in 45 years, how much would you need to deposit, on a monthly basis, to reach this goal? Assume an ordinary annuity.a.$339.55c.$337.62b.$338.41d.$336.21

Answer
A
A
B
B
C
C
D
D
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When you graduate college at the age of 20, you…