John wants to buy a new sports car, and he estimates that he'll need to make a $4,500.00 down payment towards his purchase. If he has 29 months to save up for the new car, how much should he deposit into his account if the account earns 3.673% compounded continuously so that he may reach his goal? John needs to deposit $ 4,114.97
John wants to buy a new sports car, and he estimates that he'll need to make a $4,500.00 down payment towards his purchase. If he has 29 months to save up for the new car, how much should he deposit into his account if the account earns 3.673% compounded continuously so that he may reach his goal? John needs to deposit $ 4,114.97
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Transcribed Image Text:John wants to buy a new sports car, and he estimates that he'll need to make a $4,500.00 down payment towards his purchase. If he has 29 months to save up for the new car, how much should he
deposit into his account if the account earns 3.673% compounded continuously so that he may reach his goal?
John needs to deposit $ 4,114.97
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