You want to purchase a new car in 7 years and expect the car to cost $68.000. Your bank offers a plan with a guaranteed APR of 6.5% if you make regular monthly deposits. How much should you deposit each month to end up with $68,000 in 7 years? You should invest $ each month. (Round the final answer to the nearest cent as needed, Round all intermediate values to seven decimal places as needed.)
You want to purchase a new car in 7 years and expect the car to cost $68.000. Your bank offers a plan with a guaranteed APR of 6.5% if you make regular monthly deposits. How much should you deposit each month to end up with $68,000 in 7 years? You should invest $ each month. (Round the final answer to the nearest cent as needed, Round all intermediate values to seven decimal places as needed.)
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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