Pearson sets up a fund to pay $1000 at the end of each month for 9.5 years.
Question:
(a) How much money must be deposited into the fund?
(b) How much will be paid out of the fund?
(c) How much interest is earned by the fund?
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a Money Deposited in the fund 1000 12 95 114000 b 39 compounded ...View the full answer
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Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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