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Chuck Garabedian would like to have $13,050. How many years will it take Chuck to reach this goal if he makes deposits of the following
Chuck Garabedian would like to have $13,050. How many years will it take Chuck to reach this goal if he makes deposits of the following amounts into an annuity yielding 7% at the end of each period with interest compounded monthly? a) $345.50 per month b) $202.25 per month c) $112.75 per month
I have to enter the info into a spreadsheet like below:
Relevant Information | |||||
Annual Interest Rate | |||||
Periods Per Year | |||||
Number of Years | |||||
Needed Information | |||||
Present Value | PV | ||||
Future Value | FV | ||||
Payment | PMT | ||||
Rate | RATE | ||||
Number of Periods | NPER |
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