Mark M. answered • 24d

Mathematics Teacher - NCLB Highly Qualified

FV = pmt(((1 + r)^{n} ) - 1) / r

30000 = pmt(((1 + 0.055/12)^{36} - 1) / (0.055/12)

Cam you calculate and answer?

Amy W.

asked • 24dYou want to purchase a new car in 3 years and expect the car to cost $30,000. Your bank offers a savings plan with a guaranteed APR of 5.5% if you make regular monthly deposits. How much should you deposit each month to end up with $30,000 in 3 years?

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Mark M. answered • 24d

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Mathematics Teacher - NCLB Highly Qualified

FV = pmt(((1 + r)^{n} ) - 1) / r

30000 = pmt(((1 + 0.055/12)^{36} - 1) / (0.055/12)

Cam you calculate and answer?

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