Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $30,000 in a fund paying 5% per year, with monthly payments for 5 years PMT= $
Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $30,000 in a fund paying 5% per year, with monthly payments for 5 years PMT= $
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![Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same
intervals as deposits. Round your answer to the nearest cent.)
$30,000 in a fund paying 5% per year, with monthly payments for 5 years
PMT= $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F884f04f7-5faa-40c5-926a-de166b341bc8%2F7c120df6-1c98-4962-8d3a-b74832dffa9c%2Fjo135jq_processed.png&w=3840&q=75)
Transcribed Image Text:Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. HINT [See Quick Example 2.] (Assume end-of-period deposits and compounding at the same
intervals as deposits. Round your answer to the nearest cent.)
$30,000 in a fund paying 5% per year, with monthly payments for 5 years
PMT= $
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