Question
You can affordmonthly depositsof $500 into an account that pays 9% compounded monthly. How many months will it be until you have $25,000 to buy
You can affordmonthly depositsof $500 into an account that pays 9% compounded monthly. How many months will it be until you have $25,000 to buy a car? Select the formula you would use to solve this problem.
| 25000=500(((1+.0075)^n -1)/.0075) |
| 500=250000(((1+.0075)^n -1)/.0075) |
| 25000=500(((1+.09)^n -1)/.09) |
| 25000=500((1-(1+.0075)^n))/.0075) |
| 25000=500(1+.0075)^n |
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
