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Find the monthly payments for an ordinary annuity that will yield a future value of $122000 at % interest for 22 years.


  • MATH -

    Use the same formula as the other post:

    For an annual payment P for n years at interest rate r, the value of the investment is

    Here A=122000
    r has not been supplied.
    Solve for P.

    Note: Please do not switch screen names. Doing so will cause loss of continuity.

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