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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.)

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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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.)
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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