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    Business Mathematics Study Set 1
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    Exam 11: Annuities: Periodic Payment, Number of Payments, and Interest Rate
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    Rounded to the Next Higher Month, How Long Will It
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Rounded to the Next Higher Month, How Long Will It

Question 134

Question 134

Short Answer

Rounded to the next higher month, how long will it take end-of-month deposits of $500 to accumulate $100,000 in a savings account that pays interest of 5.25% compounded monthly?

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