a. Use the appropriate formula to find the value of the annuity b.how much of the financial goal comes from deposit and how much comes from interest? periodic deposit-$? at the end of the month Rate-5% compounded monthly Time-16 years Financial goal-$140,000
a. Use the appropriate formula to find the value of the annuity b.how much of the financial goal comes from deposit and how much comes from interest? periodic deposit-$? at the end of the month Rate-5% compounded monthly Time-16 years Financial goal-$140,000
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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a. Use the appropriate formula to find the value of the annuity b.how much of the financial goal comes from deposit and how much comes from interest?
periodic deposit-$? at the end of the month
Rate-5% compounded monthly
Time-16 years
Financial goal-$140,000
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