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Rinku has just finished her first year of university. She wants to tour Europe when she graduates in three years. By having a part-time job
Rinku has just finished her first year of university. She wants to tour Europe when she graduates in three years. By having a part-time job through the school year and a summer job during the summer, she plans to make regular weekly deposits into a savings account, which bears 18 percent interest, compounded monthly. Assume that there are 4 weeks per month. a. If Rinku deposits $15 per week, how much will she save in three years? How about $20 per week? b. Find out exactly how much Rinku needs to deposit every week if she wants to save $5,000 in three years
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