he graph shows excess supply. A graph titled Excess supply has quantity on the x-axis and price on the y-axis. A line with posit
2 answers:
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Answer:
John must invest $3719.4
Explanation:
It is given that John grandfather withdraws $120 per month for 3 year
So total month = 12 ×3 =36 months
Total amount withdrawn S = 36×120 = 4320
m = 12 times per year
Rate of interest i = 5 % = 0.05
We know that
P = $3719.41
So john must invest $3719.4