The Jones want to save $51,000.00 in 2 years for a down payment on a house. If they make monthly deposits in an account paying 3% compounded monthly, what is the size of the payments that are required to meet their 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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The Jones want to save $51,000.00 in 2 years for a down payment on a house. If they make monthly
deposits in an account paying 3% compounded monthly, what is the size of the payments that are
required to meet their goal?
(Round to 2 decimal places.)
The monthly payments are $
MacBook Air
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2$
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4
6.
7
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9
W
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R
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K L
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Transcribed Image Text:The Jones want to save $51,000.00 in 2 years for a down payment on a house. If they make monthly deposits in an account paying 3% compounded monthly, what is the size of the payments that are required to meet their goal? (Round to 2 decimal places.) The monthly payments are $ MacBook Air 吕0 F3 000 D00 F4 F5 F6 F7 F8 F9 @ # 2$ & * 4 6. 7 8 9 W E R T Y S D F G H K L C V B N
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