Nicole Lieu received $25,000 from the sale of an investment on April 1. She will need $8,441 on September 1 to cover tuition fees. How much must she invest in a term deposit on April 1 to cover the tuition fees if the interest rate on April 1 is 4.29%? Calculate term deposits in months. (We can assume that Nicole will be spending the rest of the money on beer and boys over the summer.) (Do not include the $ sign in your answers.)
Nicole Lieu received $25,000 from the sale of an investment on April 1. She will need $8,441 on September 1 to cover tuition fees. How much must she invest in a term deposit on April 1 to cover the tuition fees if the interest rate on April 1 is 4.29%? Calculate term deposits in months. (We can assume that Nicole will be spending the rest of the money on beer and boys over the summer.) (Do not include the $ sign in your answers.)
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Transcribed Image Text:Nicole Lieu received $25,000 from the sale of an investment on April 1. She will need $8,441 on September 1 to cover tuition fees. How
much must she invest in a term deposit on April 1 to cover the tuition fees if the interest rate on April 1 is 4.29%?
Calculate term deposits in months.
(We can assume that Nicole will be spending the rest of the money on beer and boys over the summer.)
(Do not include the $ sign in your answers.)
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