Thread: log application problem

a couple wants to have $40,000 in 5 years for a down payment on a new house.

a) how much could they deposit today, at 6.4% compounded quarterly, to have the required amount in 5 years?

b)how much interest will be earned?

c)if they can deposit only $20,000 now, how much more will they need to complete the $40,000 after 5 years?

Originally Posted by shannon1111

a couple wants to have $40,000 in 5 years for a down payment on a new house.

a) how much could they deposit today, at 6.4% compounded quarterly, to have the required amount in 5 years?

b)how much interest will be earned?

c)if they can deposit only $20,000 now, how much more will they need to complete the $40,000 after 5 years?

part (a) ...









you do the rest.

Originally Posted by skeeter

part (a) ...









you do the rest.

I figure out the question b ,but I can go on to question c.....

can someone help me about the part c?plz!!~ thanks

Originally Posted by shannon1111

I figure out the question b ,but I can go on to question c.....

can someone help me about the part c?plz!!~ thanks

(c) ...

thanks!~