How long does $1,000 have to be deposited into a savings account at the end of each month to accumulate to $36,000 if interest is 6.4% compounded monthly? Use Excel or your programmable calculator to solve this problem!

How long does $1,000 have to be deposited into a savings account at the end of each month to accumulate to $36,000 if interest is 6.4% compounded monthly? Use Excel or your programmable calculator to solve this problem!

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter11: Exponential And Logarithmic Functions

Section11.CR: Review Problem Set

Problem 56CR

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How long does $1,000 have to be deposited into a savings account at the end of each month to accumulate to $36,000 if interest is 6.4% compounded monthly? Use Excel or your programmable calculator to solve this problem!

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