1. Sasi wants to buy a $10 000 car when she graduates from high school. She deposits $120 at the end of each month in an account that pays 6.5% compounded monthly. Sasi will graduate in 3½ years. Will she have enough money by then?
1. Sasi wants to buy a $10 000 car when she graduates from high school. She deposits $120 at the end of each month in an account that pays 6.5% compounded monthly. Sasi will graduate in 3½ years. Will she have enough money by then?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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Transcribed Image Text:1. Sasi wants to buy a $10 000 car when she
graduates from high school. She deposits $120
at the end of each month in an account that pays 6.5% compounded monthly. Sasi will
graduate in 3½ years. Will she have enough money by then?
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