The Weidmans want to save $25,000 in 4 years for a down payment on a house. If they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to their goal? (Round your answer to the nearest cent.)
The Weidmans want to save $25,000 in 4 years for a down payment on a house. If they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to their goal? (Round your answer to the nearest cent.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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