If $700,000 is to be saved over 12 years, how much should be deposited monthly if the investment earns 9.75% interest compounded monthly? Round to the nearest cent. OA. $2,577.27 OB. $1,965.15 OC. $1,728.04 OD. $2,244.64

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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If $700,000 is to be saved over 12 years, how much should be deposited monthly if the investment earns 9.75% interest compounded monthly? Round to the nearest
cent.
O A. $2,577.27
B. $1,965.15
C. $1,728.04
D. $2,244.64
Transcribed Image Text:If $700,000 is to be saved over 12 years, how much should be deposited monthly if the investment earns 9.75% interest compounded monthly? Round to the nearest cent. O A. $2,577.27 B. $1,965.15 C. $1,728.04 D. $2,244.64
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