Question: Problem 19.2: In order to accumulate $2,000, you will deposit $100 at the end of each month for as long as necessary. Interest is i^(12)

Problem 19.2: In order to accumulate $2,000, you will deposit $100 at the end of each month for as long as necessary. Interest is i^(12) = 4%. (a) How many regular payments are required to accumulate the $2,000? (b) If a final fractional payment will be added to the last regular payment, what must this fractional payment be? Answer is 19 and 49.17 respectively, no excel

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