62. You begin to save money to buy a car, which will be worth $25,000 five years...
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62. You begin to save money to buy a car, which will be worth $25,000 five years from now. In order to buy this car, you pay a fixed amount of $X into your car savings fund, starting now for the next 4 years.
a. Find $X, the value that must be deposited into the account, if the annual interest rate is 4%.
b. Find the required quarterly deposit $Y if the quarterly interest rate is 4%.
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Related Book For 
Engineering Economy
ISBN: 9781292265001
17th Global Edition
Authors: William G. Sullivan ,Elin M. Wicks ,C. Patrick Koelling
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