A person wishes to save a regular amount at the beginning of each month in order to
Question:
A person wishes to save a regular amount at the beginning of each month in order to buy a car in 18 months’ time. An account offers a return of 4.8% compounded monthly.
Work out the monthly savings if the total amount saved at the end of 18 months is $18 000.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
If x denotes the month...View the full answer
Answered By
Simon kingori
I am a tier-one market researcher and content developer who has been in this field for the last six years. I’ve run the freelancing gamut; from market research, data mining and SEO/SMM to copywriting, Content Development, you name it, I’ve done it. I’m extremely motivated, organized and disciplined – you have to be to work from home. My experience in Freelancing is invaluable- but what makes me a cut above the rest is my passion to deliver quality results to all my clients- it’s important to note, I've never had a dissatisfied client. Backed by a Masters degree in Computer Science from MOI university, I have the required skill set and burning passion and desire to deliver the best results for my clients. This is the reason why I am a cut above the rest. Having taken a Bsc. in computer science and statistics, I deal with all round fields in the IT category. It is a field i enjoy working in as it is dynamic and new things present themselves every day for research and exploration.
1+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
