Ron needs to save $45,000 for a down payment on his new house. He needs this money in 3 years. Ron is planning on taking the $12,000 he already has and adding month-end payments to his investment. If his investment will earn 7.5% compounded quarterly, how much will his month-end payments need to be? R to two places after the decimal. Enter negative sign-"in boxes as required. P/Y c/Y PV PMT FV Ron will need to make month-end payments of $

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Ron needs to save $45,000 for a down payment on his new house. He needs this money in 3 years. Ron is
planning on taking the $12,000 he already has and adding month-end payments to his investment. If his
investment will earn 7.5% compounded quarterly, how much will his month-end payments need to be? Round
to two places after the decimal. Enter negative sign-"in boxes as required.
/Y
P/Y
c/Y
PV
PMT
FV
Ron will need to make month-end payments of $
Transcribed Image Text:Ron needs to save $45,000 for a down payment on his new house. He needs this money in 3 years. Ron is planning on taking the $12,000 he already has and adding month-end payments to his investment. If his investment will earn 7.5% compounded quarterly, how much will his month-end payments need to be? Round to two places after the decimal. Enter negative sign-"in boxes as required. /Y P/Y c/Y PV PMT FV Ron will need to make month-end payments of $
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