Wednesday
October 22, 2014

Homework Help: Finite Mathematics

Posted by Salvany on Monday, February 7, 2011 at 9:02pm.

Jessica wants to accumulate $14,000 by the end of 5 yr in a special bank account, which she had opened for this purpose. To achieve this goal, Jessica plans to deposit a fixed sum of money into the account at the end of the month over the 5-yr period. If the bank pays interest at the rate of 7% per year compounded monthly, how much does she have to deposit each month into her account?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

math - Jessica has a credit card from party bank and another from artic bank. ...
finance management - John Roberts has $42,180.53 in a brokerage account, and he ...
finance - John Roberts has $42,180.53 in a brokerage account, and he plans to ...
math - jessica had 24 customers open an account during the month, which is 60% ...
Finance - John Roberts has $42,180.53 in a brokerage account, and he plans to ...
Precalculus - Jessica deposited $785 into an account that pays 6.2% interest ...
math - jessica borrow$9000 from the bank to purchase a used car.the bank has ...
Physics - Jessica's weight is 540 Newtons. According to the Third Law, if the ...
physics - Jessica's weight is 540 Newtons. According to the Third Law, if the ...
physics - Jessica's weight is 540 newtons. According to the Third Law, if the ...

Search
Members