A fund of $165 000 is to be accumulated in 6 years by making equal payments at

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A fund of $165 000 is to be accumulated in 6 years by making equal payments at the beginning of each month. If interest is 7.5% compounded monthly, how much interest is earned by the fund in the 20th payment interval?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:17 AM

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A fund of $165 000 is to be accumulated in 6 years by making equal payments at

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FV n due 165 00000 i 0625 n 72 165 00000 PMT 10062590578789 PMT 181030 Balance aft...View the full answer

Contemporary Business Mathematics with Canadian Applications

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