Yoursquore prepared to make monthly payments of 200, Financial Management

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Yoursquore prepared to make monthly payments of 200

Calculating the Number of Payments

You’re prepared to make monthly payments of $200, beginning at the end of this month, into an account that pays 6.1 percent interest compounded monthly.

How many payments will you have made when your account balance reaches $11,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Number of payments

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Financial Management: Yoursquore prepared to make monthly payments of 200

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Financial Management: Yoursquore prepared to make monthly payments of 200

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