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You're prepared to make monthly payments of $340, beginning at the end of this month, into...

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Finance

You're prepared to make monthly payments of $340, beginning atthe end of this month, into an account that pays 6 percent interestcompounded monthly. How many payments will you have made when youraccount balance reaches $20,575?

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4.2 Ratings (689 Votes)
Information provided Future value 20575 Monthly payment 340 Interest arte 612 050 The question pertains to annuity due Annuity due refers to the annuity payments made at the    See Answer
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You're prepared to make monthly payments of $340, beginning atthe end of this month, into an account that pays 6 percent interestcompounded monthly. How many payments will you have made when youraccount balance reaches $20,575?

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