At the end of seven years you want to have $9000 saved to use as a...
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At the end of seven years you want to have $9000 saved to use as a down payment on a house. You find an sinking fund account that will pay 4.2 % interest compounded monthly and decide to invest. How much must you deposit each month to save up for the your down payment? At the end of seven years you want to have $9000 saved to use as a down payment on a house. You find an sinking fund account that will pay 4.2 % interest compounded monthly and decide to invest. How much must you deposit each month to save up for the your down payment?
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To determine the monthly deposit needed to save 9000 in seven years with a 42 interest ra... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Posted Date:
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