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You are saving monthly to buy a Lexus Hybrid car in 3 years. Today you have $25,000 saved and your research suggests that you
You are saving monthly to buy a Lexus Hybrid car in 3 years. Today you have $25,000 saved and your research suggests that you would need $86,000. If your investment account provides an annual interest of 8.20% compounded monthly, how much should you deposit at the end of each month?
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
4th edition
978-0133428469, 013342846X, 133428370, 978-0133428377
