Question 1132676
In 7 years I want to buy a car which most likely will cost 40,000.00. The bank offers an APR of 4.5%. How much monthly deposits I will need to make to come up with 40,000.00?
<pre>Correct answer: You need monthly deposits of {{{highlight_green("$406.01")}}} in order to accumulate $40,000 in 7 years.
ACCEPT no other ANSWER!!