Find the monthly payment that will yield the future value of $90,000 using an ordinary annuity at 9% interest for 32 years. (Round the answer to the nearest cent.)$

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
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 monthly payment that will yield the future value of $90,000 using an ordinary annuity at 9% interest for 32 years. (Round the answer to the nearest cent.)
$  

 

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