Find the periodic payment R required to accumulate a sum of S dollars over t years with interest earned at the rate of r%/year compounded m times a year. Round your answer to the nearest cent.
S = 110,000, r = 4.5, t = 22, m = 4

A) R = $700.71
B) R = $714.66
C) R = $680.84
D) R = $738.19

Question

Find the periodic payment R required to accumulate a sum of S dollars over t years with interest earned at the rate of r%/year compounded m times a year. Round your answer to the nearest cent. ​
S = 110,000, r = 4.5, t = 22, m = 4
​
A) R = $700.71
B) R = $714.66
C) R = $680.84
D) R = $738.19

Quizplus · Accepted Answer

The Answer of Find the periodic payment R required to accumulate a sum of S dollars over t years with interest earned at the rate of r%/year compounded m times a year. Round your answer to the nearest cent. ​
S = 110,000, r = 4.5, t = 22, m = 4
​
A) R = $700.71
B) R = $714.66
C) R = $680.84
D) R = $738.19

Find the Periodic Payment R Required to Accumulate a Sum