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shusha [124]
3 years ago
13

You're prepared to make monthly payments of $310, beginning at the end of this month, into an account that pays 4 percent intere

st compounded monthly. How many payments will you have made when your account balance reaches $20,175
Business
1 answer:
umka2103 [35]3 years ago
8 0

Answer:

59 Payments

Explanation:

Future value = $20,175

Monthly payment= $310

Interest rate= 4%/12 = 0.3333% per month

How many payments will you have made when your account balance reaches $20,175?

Now we use Ms Excel to calculate the number of payment

Number of payment = N(FV, -PMT, I/Y)

Number of payment = N(20,175 , -310 , 0.3333%)

Number of payment = 58.9989

Number of payment = 59.

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Why do infomercials use both strong and weak arguments? to appeal to both high and low involvement consumers because it is neces
Vesna [10]

Answer:

The correct answer is letter "A": to appeal to both high and low involvement consumers.

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3 years ago
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Norma-Jean [14]

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