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: $60,000 $3226; $32,260 from deposits and $27,740 from interest $2015; $40,300 from deposits and $19,700 from interest $2708; $54,160 from deposits and $5840 from interest $2996; $59,920 from deposits and $80 from interest

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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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: $60,000
$3226; $32,260 from deposits and $27,740 from
interest
$2015; $40,300 from deposits and $19,700 from
interest
$2708; $54,160 from deposits and $5840 from interest
$2996; $59,920 from deposits and $80 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: $60,000 $3226; $32,260 from deposits and $27,740 from interest $2015; $40,300 from deposits and $19,700 from interest $2708; $54,160 from deposits and $5840 from interest $2996; $59,920 from deposits and $80 from interest
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