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ikrabbe ikrabbe
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4 years ago
What is the principal from which $279.00 can be withdrawn at the end of each month for 17.5 years if interest is 5.44% compounded quarterly?
Textbook 

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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josanjosan
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4 years ago
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More questions for this book are available here
PMT = 279, i = 0.0544 ÷ 4 = 0.0136, n = 17.5 × 12 = 210, c =   = 
p =   - 1 = 0.0045129
PVg = 279.00  = 279.00(135.5103403) = $37 807.38

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