Solve the problem.What monthly contribution should you make if your goal is to have $425,000 in your retirement savings account after 25 years? Assume the APR is 5.4% compounded monthly and that contributions are made at the end of each month, including the last month. Round your answer to the nearest cent.

A. $672.05
B. $497.30
C. $723.33
D. $682.27
E. $625.28


Answer: A

Mathematics

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