Your friend currently has no savings, but wants to accumulate $ 1 million by depositing $ 1
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Question:
Your friend currently has no savings, but wants to accumulate $ million by depositing $ per month into an account starting month from today. How long in months will it take your friend to reach the $ million goal if the account is expected to return APR compounded monthly?
Enter answer in months, rounded to the nearest month.
Bank ABC is willing to lend you $ for a home purchase. The loan would require you to pay it back making monthly payments for years at $ per month with first payment due in month What effective annual rate is the bank charging you on this loan?
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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