A payment of $25,000 is due on January 1,2014.To accumulate enough money to make this required payment,monthly deposits of $R were made into an account earning j12 = 6% starting on June 1,2012.If the last deposit is made on January 1,2014,what is R?
A) $1257.56
B) $1191.66
C) $1251.30
D) $1185.73
Correct Answer:
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