Question
Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding
Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)
$70,000 in a fund paying 7% per year, with monthly payments for 5 years
PMT = $ and also ,
Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)
$50,000 in a fund paying 5% per year, with monthly payments for 5 years, if the fund contains $10,000 at the start
PMT
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