Assume that you want to have $1,000,000 when you plan to retire exactly 38 years...
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Assume that you want to have $1,000,000 when you plan to retire exactly 38 years from today. You expect to earn 10.65% p.a., compounded monthly, over the entire 38-year period. How much extra money per month must you deposit if you choose to fund your retirement account using an ordinary annuity technique rather than an annuity due technique?
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