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Suppose that $1000 is needed in 5 years. You found an account that offers 0.47% interest compounded monthly. How much should be deposited now to
Suppose that $1000 is needed in 5 years. You found an account that offers 0.47% interest compounded monthly.
How much should be deposited now to achieve this goal?
How should you round your answer in this situation?
What is an annuity?
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So you should deposit approximately 19906 now to achieve the goal of 1000 i...
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
