Question

Jasica Parker would like to have ​$46,000 to buy a new car in 6 years. To accumulate $ 46,000 in 6 ​years, how much should she invest monthly in a sinking fund with 9 % interest compounded​ monthly?

Answer 1

Answer: 690

Explanation:

So, you should do

46,000 * 9% = 4,140

4,140 divided by 6 = 690

So your answer is 690