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You want to buy a new sports car 3 years from now, and you plan to save $4,200 per year,...

You want to buy a new sports car 3 years from now, and you plan to save $4,200 per year, beginning one year from today. You will deposit your savings in an accountthat pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now?
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You want to buy a new sports car 3 years from now, and you plan to save $4,200 per year, beginning one year from today. You will deposit your savingsin an account that pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now?

answer = 13 267 dollars

5.2% interest

=$4,200 x 1.052 ^2 +$4,200 x 1.052 ^2+$4,200 x 1.052 ^2 =13 ,267 dollars





answered by: Arick
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