Question
You're prepared to make monthly payments of $360, beginning at the end of this month, into an account that pays 7.7 percent interest compounded monthly.
You're prepared to make monthly payments of $360, beginning at the end of this month, into an account that pays 7.7 percent interest compounded monthly.
How many payments will you have made when your account balance reaches $27,000?
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Gordon Roberts, Hamdi Driss
8th Canadian Edition
01259270114, 9781259270116
