Hw 6.7 problem 16 John wants to buy a new sports car, and he estimates that he'll need to make a $3,125.00 down payment towards his purchase. If he has 36 months to save up for the new car, how much should he deposit into his account if the account earns 5.445% compounded continuously so that he may reach his goal?

5/20 so 25%

step-by-step explanation:

one fourth of 9% = 2.25%

gavin is correct in saying : the equivalent quarterly interest rate would be

2.25%.

2x=70  

x=70/2

x=35

thats the answer

step-by-step explanation:

the exponential expression to find the value of the cd, in dollars, after t years will be:  

step-by-step explanation:

formula of compound interest:   , where final value after years,   initial value, rate of interest in decimal and number of compounding in a year.

oliver plans to purchase a $1,500 certificate of deposit (cd) at his bank. that means,  

the cd will earn 2.3% interest, compounded semi-annually.

so,   and  

now, plugging these values into the above formula, we will

(rounded to the nearest ten-thousandth)

so, the exponential expression to find the value of the cd, in dollars, after t years will be: