Sir it's important to me please cross check once you are done You want to receive $525 at the end of each month for 2 years. Interest is 7.8% compounded monthly.(a) How much would you have to deposit at the beginning of the 2-year period?(b) How much of what you receive will be interest?CFAF(a) The deposit is $.(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)(b) The interest is $.(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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You want to receive $525 at the end of each month for 2 years. Interest is 7.8% compounded monthly. (a) How much would you have to deposit at the beginning of the 2-year period? (b) How much of what you receive will be interest? (a) The deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

You want to receive $525 at the end of each month for 2 years. Interest is 7.8% compounded monthly. (a) How much would you have to deposit at the beginning of the 2-year period? (b) How much of what you receive will be interest? (a) The deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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