Question
How much did Tyler deposit every month in his savings account if he had $14,000 after 30 month-end deposits? The money in his savings account
How much did Tyler deposit every month in his savings account if he had $14,000 after 30 month-end deposits? The money in his savings account was growing at 2.85% compounded monthly.
Brandon's retirement fund has an accumulated amount of $55,000. If it has been earning interest at 3.79% compounded monthly for the past 18 years, calculate the size of the equal payments that he deposited at the beginning of every 3 months.
Jeffrey leased equipment worth $50,000 for 7 years. If the cost of borrowing is 6.95% compounded monthly, calculate the size of the lease payment that is required to be made at the beginning of each month.
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