Sandy is planning to accumulate $500,000 after 30 years by making investments of $300 at the end of each month for 20 years and leaving the money to grow at 7% compounded semi-annually for 10 more years. What monthly compounded nominal rate will Sandy have to be earning over the 20 years that she makes the monthly deposits?

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The Answer of Sandy is planning to accumulate $500,000 after 30 years by making investments of $300 at the end of each month for 20 years and leaving the money to grow at 7% compounded semi-annually for 10 more years. What monthly compounded nominal rate will Sandy have to be earning over the 20 years that she makes the monthly deposits?

Sandy Is Planning to Accumulate $500,000 After 30 Years by Making