Sarafina is making monthly payments into an annuity. She wants to have $900 in the fund to buy a new convection range in six months, and the account pays 4.8% annual interest. What are her monthly payments to the account? To have $900 in the fund in six months, her monthly payments must be $ (Round up to the nearest cent.)

Sarafina is making monthly payments into an annuity. She wants to have $900 in the fund to buy a new convection range in six months, and the account pays 4.8% annual interest. What are her monthly payments to the account? To have $900 in the fund in six months, her monthly payments must be $ (Round up to the nearest cent.)

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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