How many monthly payments of $150 would it take to accumulate $5,000 if the payments were...
How many monthly payments of $150 would it take to accumulate $5,000 if the payments were deposited in an account paying 6% compounded monthly?
Homework Answers
No of monthly payments have been calculated using NPER function:-
=NPER(rate,pmt,pv,fv)
=NPER(6%/12,-150,0,5000)
=30.91 months
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How many monthly payments of $150 would it take to accumulate
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