Question
Jane wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns3.6%interest, compounded monthly. Payments will be made at the
Jane wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns3.6%interest, compounded monthly. Payments will be made at the end of each month.
How much money will she need to pay into the annuity each month for the annuity to have a total value of$6000 after6 years?
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Finite Geometry And Combinatorics
Authors: F De Clerck ,J Hirschfeld
1st Edition
0521448506, 978-0521448505
