Tom wants to have $6,000 in three years. At 4.75% interest compounded monthly, how much does he need to deposit today, in order to obtain his 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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Tom wants to have $6,000 in three years. At 4.75% interest compounded monthly, how much does he need to deposit today, in order to obtain his goal?

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