Question: When Dan signed a two - year contract as a manager, the company allowed reimbursement of $ 3 9 0 at the end of every
When Dan signed a twoyear contract as a manager, the company allowed reimbursement of $ at the end of every month for his car expenses. At the time the contract was signed, money was worth compounded monthly.
a What value did the expense reimbursement provision have when the contract was signed?
b What is the outstanding value of the reimbursement after the th payment?
a The value was $
Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
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