you want to retire with $2,846,000.00 in your mutual fund account. you will invest for 27 years. the mutual…

you want to retire with $2,846,000.00 in your mutual fund account. you will invest for 27 years. the mutual fund reports an average return of 10.28% over the 27 - year - long life of the mutual fund. assuming that this interest rate continues, and is compounded quarterly, how much will you need to pay quarterly into your mutual fund to reach your goal?\nuse this formula:\n$pmt=\frac{fv\times\frac{r}{n}}{(1 + \frac{r}{n})^{nt}-1}$\nenter the dollar amount rounded to the nearest cent.\nyour answer:

you want to retire with $2,846,000.00 in your mutual fund account. you will invest for 27 years. the mutual fund reports an average return of 10.28% over the 27 - year - long life of the mutual fund. assuming that this interest rate continues, and is compounded quarterly, how much will you need to pay quarterly into your mutual fund to reach your goal?\nuse this formula:\n$pmt=\frac{fv\times\frac{r}{n}}{(1 + \frac{r}{n})^{nt}-1}$\nenter the dollar amount rounded to the nearest cent.\nyour answer:

Answer

Answer:

$1344.72