Annual rate but payments are monthly

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Reference no: EM131318150

To accumulate $217,593.30 at the end of 5n months, deposits of $100 are made at the end of each of the first 2n months and $300 at the end of the next 3n months. Given that (1 + i)n = 92.372, find n. (Be careful to note that i is an annual rate but payments are monthly.)

Reference no: EM131318150

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