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At the beginning of every three months, a college student deposits P3,000 in a fund that gives 2% compounded quarterly. If he intends to use this money for his graduation, how much money does he have in 42 months? Blank 1

At the beginning of every three months, a college student deposits P3,000 in a fund that gives 2% compounded quarterly. If he intends to use this money for his graduation, how much money does he have in 42 months? Blank 1

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...
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At the beginning of every three months, a college student deposits #3,000 in a fund that gives 2% compounded quarterly. If he intends to use this money for his graduation, how much money does he have in 42 months? #Blank 1
Transcribed Image Text:At the beginning of every three months, a college student deposits #3,000 in a fund that gives 2% compounded quarterly. If he intends to use this money for his graduation, how much money does he have in 42 months? #Blank 1
Polly purchased a car. She paid $250,000 as down payment, and 15,000 payable at the beginning of each month for 48 months. If money is worth 12% compounded monthly, what is the equivalent cash price of the car? #Blank 1 Blank 1 Add your answer
Transcribed Image Text:Polly purchased a car. She paid $250,000 as down payment, and 15,000 payable at the beginning of each month for 48 months. If money is worth 12% compounded monthly, what is the equivalent cash price of the car? #Blank 1 Blank 1 Add your answer
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