You're prepared to make monthly payments of $200, beginning at the end of this month, into an account that pays 10 percent interest compounded monthly. How many payments will you have made when your account balance reaches $55,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.q., 32.16.)

You're prepared to make monthly payments of $200, beginning at the end of this month, into an account that pays 10 percent interest compounded monthly. How many payments will you have made when your account balance reaches $55,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.q., 32.16.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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