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You currently have $4000 saved towards the purchase of a new car. You want to be able to buy a car for $15000 in 4
You currently have $4000 saved towards the purchase of a new car. You want to be able to buy a car for $15000 in 4 years. Your money is earning 5% compounded yearly. What is the size of your yearly deposit?
A mortgage requires payments of $4000.00 at the end of every six months for twelve years. If interest is 8% compounded quarterly, calculate the principal of the loan.
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