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.

 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 =

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= 15000/ 8.76891732514 = 1710.58745839≈1710.6

black/brown

step-by-step explanation:

well, you see here, jamal was born to 2 parents, his mother who he lives with and his father who left at a young age and who happens to be younger than him. he stole cookies because he has to steal food due to the fact that he spends his government poverty checks on pot and women.