document.write( "Question 934002: Katy wants to buy a bicycle that costs $75 and will purchase it in 6 months. how much should she put in her savings account for this if she can get 3% per annum compounded monthly? \n" ); document.write( "

Algebra.Com's Answer #569916 by ptfile(81) $\"\"$ $\"About$

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document.write( "Let  t = duration of payment\r\n" );
document.write( "     n = number of intervals\r\n" );
document.write( "     r = rate\r\n" );
document.write( "    PV = Present Value\r\n" );
document.write( "    FV = Future Value\r\n" );
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\n" ); document.write( "Katy needs to place $73.88 in her savings account in order for her to buy the bicycle in 6 months. \n" ); document.write( "

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