What effective annual rate of return (EAR) would Rayne need to earn if she deposits $1,000 per month into an account beginning one month from today in order to have a total of $1,000,000 in 30 years?
A) 5.98%
B) 6.55%
C) 4.87%
D) 6.14%

Question

Quizplus · Accepted Answer

The Answer of What effective annual rate of return (EAR) would Rayne need to earn if she deposits $1,000 per month into an account beginning one month from today in order to have a total of $1,000,000 in 30 years?
A) 5.98%
B) 6.55%
C) 4.87%
D) 6.14%

What Effective Annual Rate of Return (EAR) Would Rayne Need