subject
Mathematics, 09.03.2020 02:40 faithtunison

I am having trouble figuring out part D, any help would be welcomed!

Mario is setting up a money market savings account with an APR of 3.75% compounded monthly. He also received a $1,200 bonus for working extremely hard to complete a project ahead of schedule.
a. If he opens the money market savings account with his bonus money and then deposits $100 into the account every month, how much money will he have in this account in 5 years?
b. How long will it take for him to accumulate $6,000 for his dream vacation?
c. How much money will he need to deposit every month if he wants enough money to go on his dream vacation in just 3 years?
d. Mario decides that 3 years is too long to wait for his dream vacation. If he ups his monthly contributions to $190, what APR would he need to qualify for so that he can take his dream vacation in just 2 years?

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 12:30
Describe how fraction strips can you order fractions
Answers: 2
question
Mathematics, 21.06.2019 18:00
Big boi and travis scott are performing at the super bowl. travis scott is 62 years younger than twice big boi’s age. the sum of their ages is 70 years old. use b to represent big boi’s age. write and solve an equation.
Answers: 1
question
Mathematics, 21.06.2019 20:50
The first side of a triangle measures 5 in less than the second side, the third side is 3 in more than the first side, and the perimeter is 17 in. how long is the third side? if s represents the length of the second side, which of the following represents the length of the third side? s-5 ws-2 s+ 3 next question ask for turn it in
Answers: 1
question
Mathematics, 21.06.2019 21:30
Due to a packaging error, 4 cans labeled diet soda were accidentally filled with regular soda and placed in a 12 pack carton of diet soda. two cans were randomly selected from this 12 pack. what is the probability that both cans were regular soda?
Answers: 2
You know the right answer?
I am having trouble figuring out part D, any help would be welcomed!

Mario is setting up...
Questions
question
History, 08.10.2019 09:30
question
Social Studies, 08.10.2019 09:30
question
Mathematics, 08.10.2019 09:30
question
Social Studies, 08.10.2019 09:30
Questions on the website: 13722362