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Vinvika [58]
3 years ago
13

Will mark brainliest!

Mathematics
1 answer:
Tems11 [23]3 years ago
4 0

Answer:

$2,833.47

Step-by-step explanation:

n = [lnA - lnP] / ln(1 + i)

n = [ln15000 - ln10000] / ln(1 + 0.03)

n = [9.6158 - 9.2103] / 0.0296

n = 13.70

13 years, 8 months and 12 Days

Part 2:

P = A / [(1 + i)n]

P = 15000 / [(1.03)4]

P = 15000 / 1.1255

P = $13,327.31

Part 3:

A = 10000 (1 + 0.04)5

A = $12,166.53

The amount of money you need to save to buy a car at $15,000 would be;

$15,000 - $12,166.53

=> $2,833.47

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