2. Each year, roughly 10^6computer programmers each make about $10^5How much money is this all together? Express your answer both as a power of 10 and as a dollar amount
Type the answers in the boxes below.
As a dollar amount:

As a power of 10:

$ 642.228 should be deposited at the end of each month.

Step-by-step explanation:

We know that,

The future value of a car is,

Where, F is the periodic payment,

r is the rate per period,

n is the number of periods,

Here, S = $ 25000

Annual percentage rate = 5.3 % = 0.053,

Here, the payment is paid monthly,

So, the rate per period,

   (Since, 1 year = 12 months),

Also, the number of years = 3,

Therefore, the number of periods, n = 12 × 3 = 36

Hence, $ 642.228 should be deposited at the end of each month to reach your goal of $25,000 in 3 years.