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Homework answers / question archive / Zhomart decides that he needs to save 18000$ in 7 years to put towards a new vehicle

Zhomart decides that he needs to save 18000$ in 7 years to put towards a new vehicle

Finance

Zhomart decides that he needs to save 18000$ in 7 years to put towards a new vehicle. He invests every month into an ordinary annuity earning 1.68% compounded monthly and achieves his goal in the end of 7th year. What is an interest accrued during the 37th period?

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