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Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit: $? at the end of every three months Rate: 4.25% compounded quarterly Time: 5 years Financial Goal: $28,000 $1264; $25,280 from deposits and $2720 from interest $1398; $27,960 from deposits and $40 from interest $1505; $15,050 from deposits and $12,950 from interest $940; $18,800 from deposits and $9200 from interest

Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit: $? at the end of every three months Rate: 4.25% compounded quarterly Time: 5 years Financial Goal: $28,000 $1264; $25,280 from deposits and $2720 from interest $1398; $27,960 from deposits and $40 from interest $1505; $15,050 from deposits and $12,950 from interest $940; $18,800 from deposits and $9200 from interest

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit: $? at the end of every three months Rate: 4.25% compounded quarterly Time: 5 years Financial Goal: $28,000 $1264; $25,280 from deposits and $2720 from interest $1398; $27,960 from deposits and $40 from interest $1505; $15,050 from deposits and $12,950 from interest $940; $18,800 from deposits and $9200 from interest
Transcribed Image Text:Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit: $? at the end of every three months Rate: 4.25% compounded quarterly Time: 5 years Financial Goal: $28,000 $1264; $25,280 from deposits and $2720 from interest $1398; $27,960 from deposits and $40 from interest $1505; $15,050 from deposits and $12,950 from interest $940; $18,800 from deposits and $9200 from interest
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