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How much should you save, monthly, in an account bearing 6.25%, compounded monthly, to $30,000 for a new in five years?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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How much should you save, monthly, in an account bearing 6.25%, compounded monthly, to $30,000 for a new in five years?

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