Question: It is May 1. You have just bought $1,700 worth of furniture. You will pay for it in 24 equal monthly payments, starting at

It is May 1 . You have just bought ( $ 1,700 ) worth of furniture. You will pay for it in 24 equal monthly payments, startRinku has just finished her first year of university. She wants to tour Europe when she graduates in 3 years. By having a par 

It is May 1. You have just bought $1,700 worth of furniture. You will pay for it in 24 equal monthly payments, starting at the end of May next year. Interest is 8% nominal per year, compounded monthly. How much will your payment be? (Round your answer [4/4] to the nearest cent eg. XX.XX) $ Number Rinku has just finished her first year of university. She wants to tour Europe when she graduates in 3 years. By having a part- time job through the school year and a summer job during the summer, she plans to make regualr weekly deposits into a savings account, which bears 19% interest, compounded monthly (Assume there are four weeks in every month for this question). (a) If Rinku deposits $13 per week, how much will she save in 3 years (Round your answer to the nearest cent eg. X.XX)? $ Number [2/7] (b) If Rinku deposits $18 per week, how much will she save in 3 years (Round your answer to the nearest cent eg. X.XX)? $ Number [2/7] (c) Exactly how much does Rinku need to deposit every week if she want to save $5,800 in 3 years (Round your answer to the nearest cent eg. X.XX) $ Number [3/7]

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