You want to save up $10,500 to purchase a used car in 5 years. Your account...
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You want to save up $10,500 to purchase a used car in 5 years. Your account earns an annual rate of 5.4% compounded monthly. How much do you need to deposit each month to meet your goal? You want to save up $10,500 to purchase a used car in 5 years. Your account earns an annual rate of 5.4% compounded monthly. How much do you need to deposit each month to meet your goal?
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Answer rating: 100% (QA)
To calculate the monthly deposit required to meet your goal we can use the formula ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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