Suppose you want to have $300,000 in the bank when you retire in 45 years and...
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Suppose you want to have $300,000 in the bank when you retire in 45 years and the bank pays 3% annual interest compounded monthly. What should your monthly payments be? Suppose you want to have $300,000 in the bank when you retire in 45 years and the bank pays 3% annual interest compounded monthly. What should your monthly payments be?
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Let the monthly payment be x So the deposit of x per month 3 per annum fo... View the full answer
Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
Posted Date:
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