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10-A student who wins a matriculation wants to save Money for his master's degree after 4 years. For this, the student must have 20,000 dollars
10-A student who wins a matriculation wants to save Money for his master's degree after 4 years. For this, the student must have 20,000 dollars at the end of 4 years. The annual interest rate is 14%. a) How much Money should this scholars deposit into the bank so that this student will be $ 20,000 after 4 years? b) If the student pays 4 equal amounts over 4 years, what should be the amount of each installment to accumulate $ 20,000? 11- Mr. X wants to buy a car. Theprice of the car is $ 40,000. He was also offered the following payment options. (i=%10) 1) Pay the amount in advanceand take advantage of the $ 1000 discount. II) Pay $5,500 every month for 12 months. Pay $2,250 every month for 10 months and pay $ 30,000 at the end of the 10. month
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