question archive A person is planning to invest a certain amount of money into a fund every three-month

A person is planning to invest a certain amount of money into a fund every three-month

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A person is planning to invest a certain amount of money into a fund every three-month. The first payment will be made now. That person wants to have 100,000 TL in this fund at the end of the fifth year. If the interest rate is 12%, how much money does he have to invest every month beginning now (what are the periodic payments)? (20 pts)

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