Michelle wants to have a $23,000 down payment when she buys a new car in 5 years. How much money must she deposit at the end of each quarter in an account paying 2.8% compounded quarterly so that she...


Michelle wants to have a $23,000 down payment when she buys a new car in 5 years. How much money must she deposit at the end of each quarter in an account paying 2.8% compounded quarterly so that she<br>will have the down payment she desires?<br>She must deposit $ at the end of each quarter.<br>(Round up to the nearest cent,)<br>

Extracted text: Michelle wants to have a $23,000 down payment when she buys a new car in 5 years. How much money must she deposit at the end of each quarter in an account paying 2.8% compounded quarterly so that she will have the down payment she desires? She must deposit $ at the end of each quarter. (Round up to the nearest cent,)

Jun 04, 2022
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