Homework Answers
first we need to find value of the boat after 20 years
P=15000
t=20 years
r=3% per year
.
.
the money sit for 10 years
A=27091.66852
r = 2% = 0.02
t=10 years
so we needed to arrange 22224.60421 in 10 years
A1 = 22224.60421
PMT=?
r=2% = 0.02
t= 10 years
![444.4936 = PMT (1.02)0 – 1]](http://img.homeworklib.com/questions/4691c140-4336-11eb-a7cd-35954399106f.png?x-oss-process=image/resize,w_560)
..................value
of the each deposit
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