A person wishes to save a regular amount at the beginning of each month in order...
A person wishes to save a regular amount at the beginning of
each month in order to
buy a car in 18 months’ time. An account offers a return of 4.8%
compounded monthly.
Work out the monthly savings if the total amount saved at the end
of 18 months is
$18 000.
Homework Answers
Answer:
The Monthly Savings is = 639.565
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