Nick would like to have $24,000 to buy a new motorcycle in 6 years. To accumulate $24,000

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Nick would like to have $24,000 to buy a new motorcycle in 6 years. To accumulate $24,000 in 6 years, how much should Nick invest monthly in a sinking fund with a 7.5% interest rate compounded monthly?

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 29, 2019 04:39 AM

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Nick would like to have $24,000 to buy a new motorcycle in 6 years. To accumulate $24,000

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A Survey of Mathematics with Applications

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