# finite math

in order to accumulate enough money for a down payment, a couple deposits \$618 each month into a account paying 3% compounded monthly. if payments are made at the end of each period, how much will the account have in 6 years?

1. 👍 0
2. 👎 0
3. 👁 261
1. You can use the amortization formula and solve for P in the next problem.

1. 👍 0
2. 👎 0

## Similar Questions

1. ### math

In order to accumulate enough money for a down payment on a​ house, a couple deposits \$ 688 per month into an account paying 6 % compounded monthly. If payments are made at the end of each​ period, how much money will be in

asked by shannon on March 5, 2018
2. ### math

Five years ago, you bought a house for \$171,000. You had a down payment of \$35,000, which meant you took out a loan for \$136,000. Your interest rate was \$5.6% fixed. You would like to pay more on your loan. You check your bank

asked by Gretta on November 11, 2011
3. ### math

Five years ago, you bought a house for \$171,000. You had a down payment of \$35,000, which meant you took out a loan for \$136,000. Your interest rate was \$5.6% fixed. You would like to pay more on your loan. You check your bank

asked by tiana on November 11, 2011
4. ### algebra

Five years ago, you bought a house for \$171,000. You had a down payment of \$35,000, which meant you took out a loan for \$136,000. Your interest rate was \$5.6% fixed. You would like to pay more on your loan. You check your bank

asked by t on August 9, 2011
5. ### Algebra

Financial Project Five years ago, you bought a house for \$171,000. You had a down payment of \$35,000, which meant you took out a loan for \$136,000. Your interest rate was \$5.6% fixed. You would like to pay more on your loan. You

asked by Torra on November 9, 2011
1. ### Math

Mike started a savings account by depositing \$9. Each month, he deposits more money than the month before. At the end of 41 months, he has saved \$9,389.00. How much more does he deposit each month?

asked by Stephanie on January 5, 2015
2. ### Math

Me. And Mrs. Jefferson have a total of \$5170 in the bank. At the end of the month, mr. Jefferson deposits \$450 into his account, and news Jefferson deposits \$626 into her account. They now have an equal amount of money in their

asked by Ramas on January 13, 2015
3. ### economic

1)If the transactions approach to measuring money is used, then the money supply consists of a. transaction deposits only. b. currency, checkable and debitable deposits, and traveler's checks. c. currency and transaction deposits

asked by henry on June 18, 2010
4. ### Mathematics and investment

1. Angelo wants to renovate his house in 3 years. He estimates the cost 300,000. How much must Angelo invest now at 8% compounded quarterly in order to have 300,000 3 years from now. 2. Angelo Ancis want to save 500,000 in 5.5

asked by mezell on September 23, 2014
5. ### Math106

A couple deposits 459 per month paying 6% compounded monthly how much would be in the account in 5 years

asked by Terri on March 25, 2013

More Similar Questions