A couple would like to accumulate $20,000 in 3 years as a down payment on a house, by making deposits at the end of each week in an account paying interest at 12% compounded monthly. Find the size of the weekly deposit.
A couple would like to accumulate $20,000 in 3 years as a down payment on a house, by making deposits at the end of each week in an account paying interest at 12% compounded monthly. Find the size of the weekly deposit.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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