5. 40. Calculating the number of payments [LO 6.2] You are prepared to make monthly payments of...

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5. 40.

Calculating the number of payments [LO 6.2] You are prepared to make monthly payments of $175, beginning at the end of this month, into an account that pays 7 per cent interest compounded monthly.

How many payments will you have made when your account balance reaches $15 000?

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