Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $70,000 in a fund paying 3% per year, with monthly payments for 10 years, if the fund contains $50,000 at the start
Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $70,000 in a fund paying 3% per year, with monthly payments for 10 years, if the fund contains $50,000 at the start
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)
$70,000 in a fund paying 3% per year, with monthly payments for 10 years, if the fund contains $50,000 at the start
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