What amount of money invested now will provide payments of $500 at the end of every month

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What amount of money invested now will provide payments of $500 at the end of every month for five years following a four-year period of deferral? The money will earn 7.2% compounded monthly.

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:38 AM

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What amount of money invested now will provide payments of $500 at the end of every month

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The required amount is the present value of the deferred ...View the full answer

Business Mathematics In Canada

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