Cindy wants $2.5 million for her retirement at age 65. Cindy is 25 years old today and plans to deposit equal

amounts each year starting on her 26th birthday and ending on her 65th birthday.

If her investments earn 6%
per year, how much must each deposit be?

$16,153.84 (FVA = $2.5 million, N = 40, I = 6%, solve for PMT)

Business

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