5. Uncle Ben plans to use his monthly retirement allowance and prepare the future of his 10- year-old nephew. Determine the monthly savings that he should make with interest at 89% monthly to amount to 180,000 at the time his nephew will be 18 years old

5. Uncle Ben plans to use his monthly retirement allowance and prepare the future of his 10- year-old nephew. Determine the monthly savings that he should make with interest at 89% monthly to amount to 180,000 at the time his nephew will be 18 years old

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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5. Uncle Ben plans to use his monthly retirement allowance and prepare the future of his 10-
year-old nephew. Determine the monthly savings that he should make with interest at 8%
monthly to amount to 180,000 at the time his nephew will be 18 years old.

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