Mathematics, 09.10.2020 03:01 growingideas
A distribution point plans to sace $2000 a month for the next 3 years for future emergencies. The interest rate is 4.5 percent compounded monthly. The first deposit will be made today. What would today's deposit ammount have to be if the firm opted for one lump sum deposit that would yield the same ammount of savings as the monthly deposits after 3 years
Answers: 2
Mathematics, 21.06.2019 14:30
The amount of money, in dollars, in an account after t years is given by a = 1000(1.03)^t. the initial deposit into the account was $_^a0 and the interest rate was _a1% per year. only enter numbers in the boxes. do not include any commas or decimal points^t. the initial deposit into the account was $__^a0 and the interest rate is % per year.
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A distribution point plans to sace $2000 a month for the next 3 years for future emergencies. The in...
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