Downpayment Example 1 (Uniform Series Sinking Fund)

Downpayment Example 1 (Uniform Series Sinking Fund) - per...

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Downpayment Example 1 (Uniform Series Sinking Fund) John is saving up to purchase his first house. He estimates that he will need $24,000 for the downpayment and the closing costs. John’s savings account earns a 0.5%
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Unformatted text preview: per month and compounds monthly. How much must he take out of his paycheck each month and put into savings in order to reach his goal in four years?...
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This note was uploaded on 12/07/2011 for the course CIVL 4111 taught by Professor Moore,l during the Fall '08 term at U. Memphis.

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