Payments of $1200 are made out of a fund of $25 000 at the end of every

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Payments of $1200 are made out of a fund of $25 000 at the end of every three months. If interest is 6% compounded monthly, what is the size of the final payment?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Sep 21, 2024 05:20 AM

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Payments of $1200 are made out of a fund of $25 000 at the end of every three months. If interest is 6% compounded monthly, what is the size of the final payment?
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Payments of $1200 are made out of a fund of $25 000 at the end of every

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END mode PY 4 CY 12 66 IY 25 000 PV 1200 PMT 0 FV C...View the full answer

Contemporary Business Mathematics with Canadian Applications

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