Dana wants to have $5000 available for a down payment on a new car when she...

 

Transcribed Image Text:

Dana wants to have $5000 available for a down payment on a new car when she finishes her degree in four years. If her money market account has an interest rate of 3.75% compounded monthly, how much of her graduation money does she need to set aside for the car? Round answer to 2 decimal places. Dana wants to have $5000 available for a down payment on a new car when she finishes her degree in four years. If her money market account has an interest rate of 3.75% compounded monthly, how much of her graduation money does she need to set aside for the car? Round answer to 2 decimal places.

Answer rating: 100% (QA)

To determine how much Dana needs to set aside for the car we can use the future val... View the full answer