Acme Annuities recently offered an annuity that pays 7.5% compounded monthly. What equal monthly deposit should be made into this annuity in order to have $174,000 in 8 years? The amount of each deposit should be $ (Round to the nearest cent.) A company estimates that it will need $136,000 in 14 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 5.1% compounded monthly, how much should each payment be? The amount of each payment should be $ (Round to the nearest cent.)
Acme Annuities recently offered an annuity that pays 7.5% compounded monthly. What equal monthly deposit should be made into this annuity in order to have $174,000 in 8 years? The amount of each deposit should be $ (Round to the nearest cent.) A company estimates that it will need $136,000 in 14 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 5.1% compounded monthly, how much should each payment be? The amount of each payment should be $ (Round to the nearest cent.)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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