Suppose you want to save in order to purchase a new boat. Take the APR to be 6.0%. You want to have $15,000 toward the purchase of a boat in three years. How much do you need to deposit each month? (Round your answer to the nearest cent.)

The amount needed to be deposited each month is;

P ≈ $393.23

We are given;

APR = 6% = 0.06

Total accumulated amount; A = $15000

number of years; n = 3 years

To calculate the amount needed to be deposited each month, we will use the formula;

A = [P(1 + APR/12)¹²ⁿ - 1)] ÷ (APR/12)

Plugging in the relevant values gives;

15000 = [P(1 + (0.06/12))⁽¹²*³⁾ - 1] ÷ (0.06/12)

Rearrange to get;

[P(1 + (0.06/12))³⁶ - 1] = 15000 × 0.06/12

⇒ [P(1 + 0.005)³⁶ - 1] = 75

⇒ P(0.19073) = 75

⇒ P = 75/0.19073

⇒ P ≈ $393.23

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Amount deposit each month = $365.26

Step-by-step explanation:

Given:

Amount deposit = $15,000

Rate = 6% = 6% / 12 = 0.005

Number of time = 3 x 12 = 36

Find:

Amount deposit each month

Computation:

Amount deposit each month = [(15,000) x 0.005]/[(1.005){(1.005)³⁶-1}]

Amount deposit each month = $365.26

so what is the problem what are they asking you to solve

step-by-step explanation:

so what is the problem what are they asking you to solve

proofs involving isosceles triangles often require special consideration because an isosceles triangle has several distinct properties that do not apply to normal triangles.(more about triangle types) therefore, when you are trying to prove that two triangles are congruent, and one or both triangles, are isosceles you have a few theorems that you can use to make your life easier.

step-by-step explanation:

an isosceles triangle has two congruent sides and two congruent angles. the congruent angles are called the base angles and the other angle is known as the vertex angle. ∠bac and ∠bca are the base angles of the triangle picture on the left. the vertex angle is ∠abc