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You would like to save for a car. You would like to have $20,000 saved in 5 years. You decide to make payments at the
You would like to save for a car. You would like to have $20,000 saved in 5 years. You decide to make payments at the end of each month into an account earning 7.3% interest per year, compounded monthly for the next 5 years in order to accumulate the desired amount. a) What size payments should be made? Round to the Penny $ b) How much total interest did they earn on the investment over 5 years? Round to the penny $
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