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Mrs Engleder Has Made Deposits of $750

Question 12

Essay

Mrs. Engleder has made deposits of $750.00 at the end of every six months for twenty-three years. If interest is 3.72% compounded monthly, how much will Mrs. Engleder have accumulated six years after the last deposit?

Correct Answer:

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PMT = 750, i = 0.0372 ÷ 12 = 0.0031, n =...

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