Ask Question
25 July, 03:06

John wants to travel to Iceland he will need to have $20409, he wants to go in 15 years. how much must he deposit monthly into an account that pays 1.80% compounded interest monthly

+5
Answers (1)
  1. 25 July, 03:13
    0
    Answer: 203.4

    So, he has a dream to go to Iceland sometime. He would need to deposit a minimum of $203/month. To get this answer we need to take 20409 : 180 (180 is the amount on months in 15 years.) And multiply that by the equanimity equation (y=2/5=6)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “John wants to travel to Iceland he will need to have $20409, he wants to go in 15 years. how much must he deposit monthly into an account ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers