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You're prepared to make monthly payments of $220, beginning at the end of this month, into an account that pays 8 percent APR compounded monthly.
You're prepared to make monthly payments of $220, beginning at the end of this month, into an account that pays 8 percent APR compounded monthly. Required: How many payments will you have made when your account balance reaches $59,000 ? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Find the EAR in each of the following cases. (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Use 365 days in a year. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).)
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