Ask Question
24 October, 03:54

John plans to make an investment today which promises to return to him $6,000 each year for five (5) years beginning one year from today. The investment account will earn 7% compounded annually. At the end of five years, the investment account balance will be zero.

What is the amount of John's monthly payment?

+1
Answers (1)
  1. 24 October, 04:59
    0
    Give me a quick sec. Imma solve it out.

    Explanation:

    Imma solve it out. Gotta give me a sec
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “John plans to make an investment today which promises to return to him $6,000 each year for five (5) years beginning one year from today. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers