Question: Problem 5 (9 points) John would like to buy a new car which the current price is P. To accumulate sufficient amount to buy the

 Problem 5 (9 points) John would like to buy a new

Problem 5 (9 points) John would like to buy a new car which the current price is P. To accumulate sufficient amount to buy the new car after 3n months, John opens a fund account today and deposits X at the beginning of every month for 3n months. The first deposit is made today. It is given that the fund earns interest at an annual nominal interest rate i convertible continuously. Here, i>0. At the end of nth month, John's account has accumulated an amount of 0.25P (i.e. 25% of the car's price). At the same time, the car's manufacturer decides to increase the selling price of the car by 30%. Knowing this, John decides to increase the amount of each of remaining 2n monthly deposit to Y in order to achieve his goal. Find the value of xY. Problem 5 (9 points) John would like to buy a new car which the current price is P. To accumulate sufficient amount to buy the new car after 3n months, John opens a fund account today and deposits X at the beginning of every month for 3n months. The first deposit is made today. It is given that the fund earns interest at an annual nominal interest rate i convertible continuously. Here, i>0. At the end of nth month, John's account has accumulated an amount of 0.25P (i.e. 25% of the car's price). At the same time, the car's manufacturer decides to increase the selling price of the car by 30%. Knowing this, John decides to increase the amount of each of remaining 2n monthly deposit to Y in order to achieve his goal. Find the value of xY

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