Suppose $370.37 is deposited at the end of every three months into an account earning 6.5% compounded

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Suppose $370.37 is deposited at the end of every three months into an account earning 6.5% compounded semi-annually. If the balance in the account is to be $20 000, how many deposits are needed?

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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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Suppose $370.37 is deposited at the end of every three months into an account earning 6.5% compounded semi-annually. If the balance in the account is to be $20 000, how many deposits are needed?
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Suppose $370.37 is deposited at the end of every three months into an account earning 6.5% compounded

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FV 20 00000 PMT 37037 i 325 c 24 12 p 10325 12 1 11016...View the full answer

Contemporary Business Mathematics with Canadian Applications

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