A recent college graduate's gift from her grandparents is $24,000. How much will this provide at the end of each month (in $) for the next 12 months while the graduate travels? Assume that money is worth 7.8% compounded monthly. (Round your answer to the nearest cent.)
A recent college graduate's gift from her grandparents is $24,000. How much will this provide at the end of each month (in $) for the next 12 months while the graduate travels? Assume that money is worth 7.8% compounded monthly. (Round your answer to the nearest cent.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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A recent college graduate's gift from her grandparents is $24,000. How much will this provide at the end of each month (in $) for the next 12 months while the graduate travels? Assume that money is worth 7.8% compounded monthly. (Round your answer to the nearest cent.)
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