Buying a car michelle christian wants to have a $20,000 down payment when she buys a new car in 6 years. how much money must she deposit at the end of each quarter in an account paying 3.2% compounded quarterly so that she will have the down payment she desires?

She should deposit $ 759 at the end of each quarter in an account.

Step-by-step explanation:

This problem requires us to calculate the amount that we should invest quarterly if the investment rate is 3.2% and we want 20,000 dollars after 6 years. This can be calculate easily with the help of annuity formula given below.

Future Value= Installment ((1+ interest rate)^time period-1)/interest rate

20,000 = Deposit ((1+ 3.2%/4)^24-1)/3.2%/4

PV = 20,000/26.34

PV = $ 759

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step-by-step explanation:

isaiah walks 3 miles due north, turns and then 5 miles due east. how far is he from his starting point?

a^2 + b^2 = c^2

let c = distance from starting point.

(3)^2 + (5)^2 = c^2

9 + 25 = c^2

34 = c^2

sqrt{34} = sqrt{c^2}

sqrt{34} = c