4-143. Sixty monthly deposits are made into an account paying 6% nominal interest compounded monthly. If the

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4-143. Sixty monthly deposits are made into an account paying 6% nominal interest compounded monthly. If the objective of these deposits is to accumulate $100,000 by the end of the fifth year, what is the amount of each deposit? (4.15)

(a) $1,930

(b) $1,478

(c) $1,667

(d) $1,430

(e) $1,695

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Engineering Economy

ISBN: 9780134870069

17th Edition

Authors: William Sullivan, Elin Wicks, C Koelling

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Question Posted: Oct 26, 2024 01:00 PM

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4-143. Sixty monthly deposits are made into an account paying 6% nominal interest compounded monthly. If the

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Engineering Economy

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