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Jeremy make monthly investments

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Reference no: EM131350038

Annuity Payment: Jeremy is saving money to open an indoor skate board park. He needs $10,000 in three years to purchase equipment and initiate a building lease. He's investing his savings in an annuity yielding an annual interest rate of 6.5% compounded monthly. If the annuity requires that Jeremy make monthly investments, what annuity payment must Jeremy make to save $10,000?

Reference no: EM131350038

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