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hftyd2046
30.06.2019 •
Mathematics
You want to purchase a new car in 3 years and expect the cost to be $15000. your bank offers a savings plan with an annual interest rate of 5.5% if you make regular monthly deposits. how much should your monthly deposits be in order to end up with $15000 in 3 years? round your answer to the nearest cent.
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Ответ:
1710.6 ( approx)
Step-by-step explanation:
Since, we have to find out monthly deposits be in order to end up with $15000 in 3 years.
Therefore, Our future value of annuity = $ 15000
But, we know that, future value of annuity =![P[\frac{(1+r)^n-1}{r}]](/tpl/images/0034/1607/f3768.png)
Where, P is periodic payment
r is the rate per period
And, n is number of periods.
Since here P=? r = 5.5/12= 0.4583 (approx) and n= 36 months
Therefore, 15000=![P[\frac{(1+0.4583)^{36}-1}{0.4583}]](/tpl/images/0034/1607/9c648.png)
⇒ P= 15000/ 8.76891732514 = 1710.58745839≈1710.6
Ответ:
Choice A) (-2,2)