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Find the monthly payment R needed to haw and the time t in years are given below. Int A = $3,000; r = 9.5%; t = 2

Find the monthly payment R needed to haw and the time t in years are given below. Int A = $3,000; r = 9.5%; t = 2

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 25E
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Find the monthly payment R needed to have a sinking fund accumulate the future value A. The yearly interest rate r and the time t in years are given below. Interest is compounded monthly. A = $3,000; r = 9.5%; t = 2 R=$ (Round up to the nearest cent.)
Transcribed Image Text:Find the monthly payment R needed to have a sinking fund accumulate the future value A. The yearly interest rate r and the time t in years are given below. Interest is compounded monthly. A = $3,000; r = 9.5%; t = 2 R=$ (Round up to the nearest cent.)
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