required deposit is $. und the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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How much must be deposited at the end of each month for 7.75 years to accumulate to $1264.00 at 7% compounded monthly?
The required deposit is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:How much must be deposited at the end of each month for 7.75 years to accumulate to $1264.00 at 7% compounded monthly? The required deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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