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What is the future worth of a series of equal end-of-month payments of $1,500 if the series extends over a

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What is the future worth of a series of equal end-of-month payments of $1,500 if the series extends over a period of eight years at 9% interest compounded at the given intervals?
(a) Quarterly
(b) Monthly
(c) Continuously
For (a), assume that deposits made in mid-quarter earn interest for the fraction of the quarter during which they are on deposit.

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a Monthly effective interest rate 0 74444 …View the full answer


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Contemporary Engineering Economics

Contemporary Engineering Economics

ISBN: 978-0136118480

5th edition

Authors: Chan S. Park

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Question Posted: April 21, 2016 06:36:41
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