Question
You need to fund a tuition payment of $47,162 in 21 months. You plan to make 6 equal monthly payments starting next month to your
You need to fund a tuition payment of $47,162 in 21 months. You plan to make 6 equal
monthly payments starting next month to your savings account to go toward your tuition. If
your savings account pays 4.49% APR compounded monthly, how big must the payments be?
(a/(1+c/1200)^f)
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Principles Of Managerial Finance
Authors: Lawrence J Gitman, Chad J Zutter
7th Edition
0133546403, 9780133546408
