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Deposits of $100 are made monthly into a savings account that pays 3% compounded monthly. If the required amount in the account 10 years after
- Deposits of $100 are made monthly into a savings account that pays 3% compounded monthly. If the required amount in the account 10 years after the last deposit is $128,484.76, how long must the $100 deposits continue for?
- What is the amount required at the end of the annuity (10 years before reaching $128,484.76)
- For how long, in years, must the $100 payments continue for?
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International Financial Management
Authors: Jeff Madura, Roland Fox
4th Edition
147372550X, 9781473725508
