Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest cent.) $800,000 borrowed at 4% for 8 years, with quarterly payments PMT = $ 9) commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and monthly compounding, and assume that the quoted rate of return continues indefinitely.) The following table shows the average returns for some of the largest mutual funds

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Determine the periodic payments PMT on the given loan or mortgage. (Round your answer
to the nearest cent.)
$800,000 borrowed at 4% for 8 years, with quarterly payments
PMT = $
9)
The following table shows the average returns for some of the largest mutual funds
commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and
monthly compounding, and assume that the quoted rate of return continues indefinitely.)
Transcribed Image Text:Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest cent.) $800,000 borrowed at 4% for 8 years, with quarterly payments PMT = $ 9) The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and monthly compounding, and assume that the quoted rate of return continues indefinitely.)
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