It is ma y 1 you have just bought s2000 worth of furniture, Mechanical Engineering

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It is ma y 1 you have just bought s2000 worth of furniture

1. Fred wants to save up for an automobile. What amount must he put in his bank account each month to save €1 0 000 in two years if the bank pays 6% interest compounded monthly?

2. It is Ma y 1. You have just bought S2000 worth of furniture. You will pav for it in 24 equal monthly payments, starting at the end of Ma y next year. Interest is 6% nominal per year, compounded monthly. How much will your pavments be?

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Mechanical Engineering: It is ma y 1 you have just bought s2000 worth of furniture

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Mechanical Engineering: It is ma y 1 you have just bought s2000 worth of furniture

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