Angela wants $11,000 saved in 5 years to make a down payment on a house. How much money should she invest now at 3.2% compounded monthly in order to meet her goal?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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Angela wants $11,000 saved in 5 years to make a down payment on a house. How much money should she
invest now at 3.2% compounded monthly in order to meet her goal?
Transcribed Image Text:Angela wants $11,000 saved in 5 years to make a down payment on a house. How much money should she invest now at 3.2% compounded monthly in order to meet her goal?
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