week into her savings account at an interest rate of 1.5% and made a decision not to withdraw any amount from the account. If her goal is to save $350,000 for 3 years, how much money does she
week into her savings account at an interest rate of 1.5% and made a decision not to withdraw any amount from the account. If her goal is to save $350,000 for 3 years, how much money does she
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 6E
Related questions
Question
Karen wishes to buy a gift for her parents' golden wedding anniversary. She decided to deposit a consistent amount of money every week into her savings account at an interest rate of 1.5% and made a decision not to withdraw any amount from the account.
If her goal is to save $350,000 for 3 years, how much money does she need to deposit each week to reach her goal?
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