Helen and Troy want to save for a new armoire style stainless steel refrigerator with bottom drawer

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Helen and Troy want to save for a new armoire style stainless steel refrigerator with bottom drawer freezer compartment from Empire Electronics. They go to Acme Savings and Loan to start a Savers' Club sinking funds accounts. They wish to have more than $2500 in three years. If the 2% annualized interest rate is compounded weekly, what should be their weekly deposit to achieve their financial goal on time?

Record your precise answer here in dollars and cents with dollar sign. Hint: Round up to the next penny to assure they exceed their goal!

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Focus On Personal Finance

ISBN: 9780077861742

5th Edition

Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart

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Posted Date: Mar 22, 2023 01:03 AM

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Helen and Troy want to save for a new armoire style stainless steel refrigerator with bottom drawer

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