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Jane begins a savings program to have $4000 after 7 years. She makes a regular deposit every month into an investment account that pays 4% per annum, compounded monthly. Calculate the regular deposit. O$64,84 O $55.87 $28,55 $41.34

Jane begins a savings program to have $4000 after 7 years. She makes a regular deposit every month into an investment account that pays 4% per annum, compounded monthly. Calculate the regular deposit. O$64,84 O $55.87 $28,55 $41.34

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jane begins a savings program to have $4000 after 7 years. She makes a regular deposit every month into an investment account that pays 4% per annum, compounded monthly. Calculate the regular deposit. O$64,84 O $55.87 $28,55 $41.34
Transcribed Image Text:Jane begins a savings program to have $4000 after 7 years. She makes a regular deposit every month into an investment account that pays 4% per annum, compounded monthly. Calculate the regular deposit. O$64,84 O $55.87 $28,55 $41.34
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