Question
On June 1, 2020, a person needs $12900. The person will make equal monthly deposits to an account which earns 8.25% compounded monthly. If the
On June 1, 2020, a person needs $12900. The person will make equal monthly deposits to an account which earns 8.25% compounded monthly. If the first deposit is made on June 1, 2010 and the last deposit is made on May 1, 2020, find the size of the required monthly deposits (rounded up to the next cent) in order to have the $12900 on June 1, 2020.
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, William J. Kretlow
11th Edition
0324653506, 978-0324653502
