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Home Q & A Board Science-Related Homework Help Mathematics
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itpf04 itpf04
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A year ago
Apex Fabricating wants to accumulate $800,000 for an expansion expected to begin in four years. If today Apex makes the first of equal quarterly payments into a fund earning 6.75% compounded monthly, what should the size of these payments be?
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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shadowblacwshadowblacw
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A year ago
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3 months ago
Apex Fabricating wants to accumulate $813,000 for an expansion expected to begin in four years.
If today Apex makes the first of equal quarterly payments into a fund earning 7.40% compounded monthly, what should the size of these payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
The quarterly payments
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Educator
3 months ago


Here's a video on how it is done.
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