a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate $? at the end of each month 7.75% compounded monthly Part 1 of 2 Click the icon to view some finance formulas. Time 45 years Financial Goal $1,250,000 a. The periodic deposit is $ (Do not round until the final answer. Then round up to the nearest dollar as needed.)
a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate $? at the end of each month 7.75% compounded monthly Part 1 of 2 Click the icon to view some finance formulas. Time 45 years Financial Goal $1,250,000 a. The periodic deposit is $ (Do not round until the final answer. Then round up to the nearest dollar as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Periodic Deposit
Rate
$? at the end of each month 7.75% compounded monthly
Question 12, 8.5.15
Part 1 of 2
a. Use the appropriate formula to determine the periodic deposit.
b. How much of the financial goal comes from deposits and how much comes from interest?
Click the icon to view some finance formulas.
Time
45 years
>
Financial Goal
$1,250,000
a. The periodic deposit is $
(Do not round until the final answer. Then round up to the nearest dollar as needed.)
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