2. Determine the regular monthly deposit required to accumulate $10,000 in 5 years at an annual interest rate of 2.5% compounded monthlyly.

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ISBN:9781938168383
Author:Jay Abramson
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Chapter6: Exponential And Logarithmic Functions
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Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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2. Determine the regular monthly deposit required to accumulate $10,000 in 5 years at an
annual interest rate of 2.5% compounded monthlyly.
Transcribed Image Text:2. Determine the regular monthly deposit required to accumulate $10,000 in 5 years at an annual interest rate of 2.5% compounded monthlyly.
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