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Samantha will need to purchase a new washer in 10 years time. The washer costs 300 today, but the price inflates 4% per year. To
Samantha will need to purchase a new washer in 10 years time. The washer costs 300 today, but the price inflates 4% per year. To finance the purchase, Samantha deposits 24 into an account at the beginning of the year for 6 years. She deposits an additional X at the begining of years 4, 5 and 6 to meet her goal. The effective annual interest rate is 11%. Calculate X.
18.9
24.2
22
38.9
29
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