Ask Question
19 August, 01:36

You want to purchase a new car in 3 years and you anticipate the cost of the car to be $25,000. you are given an investment plan with a fixed apr of 5.3% if you make regular monthly deposits. how much should you deposit at the end of each month to reach your goal of $25,000 in 3 years?

+3
Answers (1)
  1. 19 August, 03:07
    0
    25000=x[ ((1+0.053/12) ^ (12*3) - 1) / (0.053/12) ]

    Solve for x

    X=642.23
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You want to purchase a new car in 3 years and you anticipate the cost of the car to be $25,000. you are given an investment plan with a ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers