Question
You need to fund a tuition payment of $46,038 in 14 months. You plan to make 8 equal monthly payments starting next month to your
You need to fund a tuition payment of $46,038 in 14 months. You plan to make 8 equal
monthly payments starting next month to your savings account to go toward your tuition. If
your savings account pays 3.27% APR compounded monthly, how big must the payments be?
(a/(1+c/1200)^f)
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Fundamentals Of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
14th Edition
0135175216, 978-0135175217
