Question
How much would a business have to invest in a fund to receive $14,000 at the end of every month for 5 years? The fund
How much would a business have to invest in a fund to receive $14,000 at the end of every month for 5 years? The fund has an interest rate of 5.75% compounded monthly and the first withdrawal is to be made in 4 years and 1 month.
Round to the nearest cent. (answer)
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Numerical Analysis
Authors: Richard L. Burden, J. Douglas Faires
9th edition
538733519, 978-1133169338, 1133169333, 978-0538733519
