a woman paid $92,000 down for a house and agreed to pay 18 quarterly payments of $4,700 each. If money is worth 4% compounded quarterly, how much (in $) would the house have cost if she had paid cash? (Round your answer to the nearest cent.)
a woman paid $92,000 down for a house and agreed to pay 18 quarterly payments of $4,700 each. If money is worth 4% compounded quarterly, how much (in $) would the house have cost if she had paid cash? (Round your answer to the nearest cent.)
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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Question
a woman paid $92,000 down for a house and agreed to pay 18 quarterly payments of $4,700 each. If
money is worth 4% compounded quarterly, how much (in $) would the house have cost if she had paid
cash? (Round your answer to the nearest cent.)
1
money is worth 4% compounded quarterly, how much (in $) would the house have cost if she had paid
cash? (Round your answer to the nearest cent.)
1
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