Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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Question
Acme annuities recently offered an annuity that pays 7.2% compounded monthly. What equal monthly deposit should be made into this annuity in order to have $89,000 in 10 years?
The amount of each deposit should be _____$?
(ROUND TO THE NEAREST CENT)
Thanks!
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