document.write( "Question 1148484: Alex expects to graduate in 3.5 years and hopes to buy a new car then. He will need a 20% down payment, which amounts to $3600 for the car he wants. How much should he save now to have $3600 when he graduates if he can invest it at 6% compounded monthly? (Round your final answer to two decimal places.)
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Algebra.Com's Answer #769840 by ikleyn(52787) $\"\"$ $\"About$

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document.write( "3600 = \r\n" );
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document.write( "where X is your unknown value.   (Notice that 42 = 42 months = 3.5 years).\r\n" );
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document.write( "So,    X =  = 2919.64 dollars.    ANSWER\r\n" );
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