What equal deposit must be made each month, Mathematics

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What equal deposit must be made each month

American Express's online banking division offered the money market account with the annual percentage yield(APY) of 5.65%. If interest is compounded monthly, find equivalent annual nominal rate and if the company wants to have $1, 000, 000 in this account after eight years, what equal deposit must be made each month?

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Mathematics: What equal deposit must be made each month

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Request for Solution File

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Mathematics: What equal deposit must be made each month

Reference No:- TGS0857517

Have a Question? (oR Write a Review)

Recent Questions Asked Mathematics

Q : Length of athletes workout sessions

Q : Compute real zeros of polynomial and factor over real number

Q : Employ a significance level

Q : Hypothetical two-way layout

Q : What equal deposit must be made each month

Q : Standard deviation of tensile strength

Q : How fast was population increasin in given year

Q : Estimate average rate of change of given time

Q : Assumption of normality seem appropriate

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Request for Solution File

Ask an Expert for Answer!!

Mathematics: What equal deposit must be made each month

Reference No:- TGS0857517

Recent Questions Asked Mathematics

Q : Length of athletes workout sessions

Q : Compute real zeros of polynomial and factor over real number

Q : Employ a significance level

Q : Hypothetical two-way layout

Q : What equal deposit must be made each month

Q : Standard deviation of tensile strength

Q : How fast was population increasin in given year

Q : Estimate average rate of change of given time

Q : Assumption of normality seem appropriate

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