You're prepared to make monthly payments of $500, beginning at the first day of this...
70.2K
Verified Solution
Link Copied!
Question
Accounting
You're prepared to make monthly payments of $500, beginning at the first day of this month, into an account that pays 6 percent interest compounded monthly. How many payments will you have made when your account balance reaches $90000? Round your answer to 2 decimal places.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!