Question
How much can be paid in scholarships at the end of each month if $200,000 is deposited in a trust fund if interest is 4.4%
How much can be paid in scholarships at the end of each month if $200,000 is deposited in a trust fund if interest is 4.4% compounded monthly?
The amount that can be paid each month is $____________
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
13th edition
978-1285027371, 128502737X, 978-1133541141
