Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Use the sinking fund formula shown to the right to determine the monthly payment needed to accumulate
​$560,000
with
9​%
interest are compounded monthly for
31
years.
p=Arn1+rnnt−1
The monthly invested payment is
​$
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