You are saving money to buy a car. If you save $ 320 per month starting one month from now at an interest rate of 9%, how much will you be able to spend on the car after saving for 5 years?

$24,135.73

Explanation:

GIVEN the following ;

Payment per month(PMT) = $320

Rate(r) = 9% 0.09÷12 = 0.0075

Period(n) = 5 years = 60 months

Future Value (FV)

Future Value(FV) :

FV = PMT ×[ [ ((1 + r)^n) - 1] ÷ r]

FV = $320 ×[ [ ((1 + 0.0075)^60) - 1] ÷ 0.0075]

FV = $320 ×[ [ (1.0075^60) - 1] ÷ 0.0075]

FV = $320 × [( 0.5656810269415) ÷

0.0075]

FV = $320 × 75.424142588666

FV = $24,135.725628373

FV = $24,135.73

answer; how many employees will be needed for jobs in the coming period;