Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Asume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $40,000 in a fund paying 5% per year, with quarterly payments for 20 years. PMT = $
Unitary Method
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Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Asume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.)
$40,000 in a fund paying 5% per year, with quarterly payments for 20 years.
PMT = $
If a periodic payment amount P is deposited into account with interest r per compounding period, then the amount accumulated amount (A) in the account after n compounding periods is given by:
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