SOLUTION: Nick has been depositing $ 130 in a savings account every three months for the past three years. This account paid 6 % convertible quarterly. Nick has just made the last deposit. N

Question 1192614: Nick has been depositing $ 130 in a savings account every three months for the past three years. This account paid 6 % convertible quarterly. Nick has just made the last deposit. Nick is buying a car for $ 20000. He is taking out a car loan. He will use the accumulated value of his savings account as the downpayment on the car. The loan is at 2 % convertible quarterly and has a term of 6 years. Find the size of Nick's monthly car loan payment.
Nick's monthly car payment
Answer by ikleyn(52879) (Show Source): You can put this solution on YOUR website!
.

There is no such term "convertible quarterly".

RELATED QUESTIONS
Nick has been depositing $ 190 in a savings account every three months for the past three (answered by CPhill,ikleyn)

For the last five years Larissa has been depositing $135 at the end of every month into a (answered by ankor@dixie-net.com)

Joe has money in a savings a ccount.If he adds $50 a month for 6 months,he will have... (answered by ikleyn)

Juan has $780 in a savings account. He is depositing $75 every week. What is his balance... (answered by neatmath)

jameson opened a new savings account with $1500. the balance of the account for the first (answered by macston)

you deposit 1800$ in a special savings account. the account earns interest at an annual... (answered by dfrazzetto)

Mary and Joe would like to save up $10,000 by the end of three years from now to buy new... (answered by Theo)

Every year after Mary had paid all her additional expenses and treated herself to some... (answered by Glaviolette)