Question

How much should be set aside each month to accumulate $10 000 at the end of...

How much should be set aside each month to accumulate $10 000 at the end of year 3 under 12% annual interest rate compounded monthly?

Select one:

a. $232.14

b. $252.14

c. $277.78

d. $222.14

e. $242.14

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Answer #1

Option a

the amount is $232.14

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