You ve decided to start saving for a down-payment to purchase a new new Gheirolet....

70.2K

Verified Solution

Question

Finance

image
You ve decided to start saving for a down-payment to purchase a new new Gheirolet. Camaro E.when you graduate (2 years from today). Assume that you can find an bank that will pay you 7.0x annually. To obtain financing for the new Cheyrolet Camaro EF that you've always dreamed about, you befieve that you'li need a down payment of \$6492.37. How much would you need to deposit today (assuming you make no additional deposits or withdrawals) in order to have the full down-payment in your account When yougraduate? note answer in dollars, rounded to the nearest penny. Le, if your answer is $1234.5678 you should enter 1234.57

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students