You’re prepared to make monthly payments of $190, beginning at the end of this month, into an account that pays 6 percent interest compounded monthly. How many payments will you have made when your account balance reaches $10,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
You’re prepared to make monthly payments of $190, beginning at the end of this month, into an account that pays 6 percent interest compounded monthly. How many payments will you have made when your account balance reaches $10,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 21E
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You’re prepared to make monthly payments of $190, beginning at the end of this month, into an account that pays 6 percent interest compounded monthly. |
How many payments will you have made when your account balance reaches $10,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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