12) Josh and John (2 brothers) are each trying to save enough money to buy their own cars. Josh is planning to save $100 from every paycheck. (He is paid every 2 weeks.) John plans to put aside $150...


12) Josh and John (2 brothers) are each trying to save enough money to buy their own cars. Josh is planning to save $100 from every paycheck. (He is paid every 2 weeks.) John plans to put aside $150 each month but has already saved $1,500. Interest rates are currently quoted at 10 percent. Josh’s bank compounds interest every two weeks while John’s bank compounds interest monthly. At the end of 2 years they will each spend all their savings on a car. (Each brother will buy a car.) What is the price of the most expensive car purchased?



Jun 07, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here