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Rinku has just finished her first year of university. She wants to tour Europe when she graduates in 3 years. By having a part time
Rinku has just finished her first year of university. She wants to tour Europe when she graduates in 3 years. By having a part time job through the school year and a summerjob during the summer, she plans to make regualr weekly deposits into a savings account, which bears 19% interest, compounded monthly (Assume there are four weeks in every month for this question). (a) If Rinku deposits $12 per week, how much will she save in 3 years (Round your answer to the nearest cent eg. XXX)? (b) If Rinku deposits $17 per week, how much will she save in 3 years (Round your answer to the nearest cent eg. XXX)? (c) Exactly how much does Rinku need to deposit every week if she want to save $5,600 in 3 years (Round your answer to the nearest cent eg. XXX)
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