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July 30, 2014

Homework Help: annuaties

Posted by nikki on Monday, August 1, 2011 at 8:32pm.

Mr. Strupp expects to retire in 12 years. Beginning one month after his retirement, he would like to receive $500 per month for twenty years. How much must he deposit into a fund today to be able to do so if the rate of interest on the deposit is 12% compounded monthly?

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