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    Practical Financial Management Study Set 1
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    Exam 6: Time Value of Money
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    How Much Will You Have to Save Each Month to Have
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How Much Will You Have to Save Each Month to Have

Question 54

Question 54

Multiple Choice

How much will you have to save each month to have $6,000 in two years if the interest rate is 18% compounded monthly?


A) $299.54
B) $398.01
C) $209.54
D) $476.59

Correct Answer:

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