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    Engineering Economy
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    Exam 4: The Time Value of Money
  5. Question
    How Much Must Be Deposited Each Month for 8 Months
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How Much Must Be Deposited Each Month for 8 Months

Question 22

Question 22

Short Answer

How much must be deposited each month for 8 months at an interest rate of 5% per month to allow for a single withdrawal of $44,500 at the same time as the last deposit?

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