Pls also explain how you got the answer
2 answers:
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Answer:
$2347; $46,940 from deposits and $5060 from interest
Step-by-step explanation:
In this question, we are asked to calculate the 3 things. The amount deposited per month, how much of total deposits comes from the total $52,000 and the total amount coming from interest.
To proceed, we first calculate the regular payment. Afterwards we calculate the deposit to get the amount coming from the $52,000 total deposit.
Using the formula interest = Annuity - Total deposit , we get the value of the interest.
Please check attachment for complete and detailed solution.
