Ross has decided that he wants to build enough retirement wealth that, if invested at 7 percent per year, will provide him with $3,300 of monthly income for 25 years. To date, he has saved nothing, but he still has 15 years until he retires. |
How much money does he need to contribute per month to reach his goal? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
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