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5. Instead of making the lump-sum deposit of $6,000 described in problem 4, you decide to deposit $100 at the end of each month
5. Instead of making the lump-sum deposit of $6,000 described in problem 4, you decide to deposit $100 at the end of each month in an annuity that pays 6.5% compounded monthly. (a) How much will you have as a down payment after five years? A= (b) Find the interest.
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
