Finance. A person wishes to have $20,300 cash for a new car 6 years from now. How much should be placed in an account now, if the account pays 5.8% annual interest rate, compounded weekly?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Finance. A person wishes to have $20,300 cash for a new car 6 years from now. How much should be placed in an
account now, if the account pays 5.8% annual interest rate, compounded weekly?
(Round to the nearest dollar.)
Transcribed Image Text:Finance. A person wishes to have $20,300 cash for a new car 6 years from now. How much should be placed in an account now, if the account pays 5.8% annual interest rate, compounded weekly? (Round to the nearest dollar.)
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