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Where is the mistake? Suppose you'd like to save enough money to pay cash for your next car. The goal is to save an extra
Where is the mistake? Suppose you'd like to save enough money to pay cash for your next car. The goal is to save an extra $15,000 over the next 5 years. What amount must be deposited monthly into an account that earns 2.6% interest, compounded monthly, to reach your goal? PV: 0 Payment: 234.37 FV:15,000 APR: 2.6% Periods per:512=60n/ compounding: 5
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