Rinku has just finished her first year of university. She wants to tour Europe when she graduates in 3 years. By having a part-time job through the school year and a summer job during the summer, she plans to make regualr weekly deposits into a savings account, which bears 18% interest, compounded monthly (Assume there are four weeks in every month for this question). (a) If Rinku deposits $15 per week, how much will she save in 3 years (Round your answer to the nearest cent eg. X.XX)? $ (b) If Rinku deposits $20 per week, how much will she save in 3 years (Round your answer to the nearest cent eg. X.XX)? $ (c) Exactly how much does Rinku need to deposit every week if she want to save $4,800 in 3 years (Round your answer to the nearest cent eg. X.XX) $
Question 8
Rinku has just finished her first year of university. She wants to tour Europe when she graduates in 3 years. By having a part-time job through the school year and a summer job during the summer, she plans to make regualr weekly deposits into a savings account, which bears 18% interest, compounded monthly (Assume there are four weeks in every month for this question).
(a) If Rinku deposits $15 per week, how much will she save in 3 years (Round your answer to the nearest cent eg. X.XX)? $
(b) If Rinku deposits $20 per week, how much will she save in 3 years (Round your answer to the nearest cent eg. X.XX)? $
(c) Exactly how much does Rinku need to deposit every week if she want to save $4,800 in 3 years (Round your answer to the nearest cent eg. X.XX) $
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