monthly Deposit Assignment

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monthly Deposit Assignment

How much should be deposited monthly in an account that generates 6% compound interest to accumulate the 20% you need as soon as possible (downpayment) of a car that you will purchase within 2 years and whose sales price is $25,000? a. $196.60 b. $983.02 c. $257.50 d. $127.89 e. Missing information, cannot be determined. Get Finance homework help today

How much should be deposited monthly in an account that generates 6% compound interest to accumulate the 20% you need as soon as possible (downpayment) of a car that you will purchase within 2 years and whose sales price is $25,000?
a. $196.60
b. $983.02
c. $257.50
d. $127.89
e. Missing information, cannot be determined. Get Finance homework help today