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15.11.2019 •
Mathematics
Jackson wants to have $18,000 available to buy a motorcycle in three years. how much should jackson save each month if he earns 5% interest, compounded monthly?
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Ответ:
The per month which Jackson have to save for motorcycle is $1291.54
Step-by-step explanation:
Given as :
The Amount = $18000
The rate of interest compounded monthly = 5%
the Time period = 3 years
Let the principal = P
Now, From compounded monthly method
Amount = Principal ×
Or, $18000 = P ×
Or, $18000 = P × ()
∴ P = = $15498.536
So, The amount which have to save per month = = $1291.54
Hence The per month which Jackson have to save for motorcycle is $1291.54 Answer
Ответ: