Find the monthly payment necessary to accumulate $10,000 in an increasing annuity paying 2% per year, with monthly payments for 7 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.

$__________ per month

Question

Find the monthly payment necessary to accumulate $10,000 in an increasing annuity paying 2% per year, with monthly payments for 7 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.
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$__________ per month

Quizplus · Accepted Answer

The Answer of Find the monthly payment necessary to accumulate $10,000 in an increasing annuity paying 2% per year, with monthly payments for 7 years. (Assume end-of-period deposits and compounding at the same intervals as deposits.) Round your answer to the nearest cent.
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$__________ per month

Find the Monthly Payment Necessary to Accumulate $10,000 in an Increasing