Jasica Parker would like to have $33,000 to buy a new car in 8 years. To accumulate $33,000 in 8 years, how much should she invest monthly in a sinking fund with 6% interest compounded monthly? The monthly invested payment is $. (Round up to the nearest cent.)
Jasica Parker would like to have $33,000 to buy a new car in 8 years. To accumulate $33,000 in 8 years, how much should she invest monthly in a sinking fund with 6% interest compounded monthly? The monthly invested payment is $. (Round up to the nearest cent.)
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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Transcribed Image Text:Jasica Parker would like to have $33,000 to buy a new car in 8 years. To accumulate $33,000 in 8 years, how much should she invest monthly in a sinking fund with 6% interest compounded monthly?
The monthly invested payment is $
(Round up to the nearest cent.)
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