Mr. Jack wants to have $25,000 for 1 years starting today which is to be used

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Mr. Jack wants to have $25,000 for 1 ½ years starting today which is to be used in research. If he intends to make monthly deposit at the beginning of each month in a time deposit paying 14% compounded monthly, how much is his regular deposit? (Show Given and Calculations)

Posted Date: Dec 28, 2021 09:00 PM

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Mr. Jack wants to have $25,000 for 1 years starting today which is to be used

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Solution FV of Annuity Due P 1r 1 r 1r Given FV 25000 r 14 12 as it is compounded monthly n ... View the full answer

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