- John Bulldock would like to put away money for a down payment on a house during the next ten years. How much money should John deposit quarterly in an account paying 3.75% annual interest rate so he can have $75,000 10 years.

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(1) Hele Giren\begin{array}{r}\text { F.r. }=\$ 75.000=P \\\text { Quataly patment }=Q=?\end{array}Annonal Interest Rate =3.75 \%\begin{aligned}\therefore \text { terest Rate }(R) & =\frac{3.75}{4} \\R & =0.9375 \% \\R & =0.009375\end{aligned}\text { vo. of \&nastes } \begin{aligned}(n) & =70 \times 4 \\n & =40 \text { Qnastees }\end{aligned}\begin{array}{l} \therefore Q= P \cdot R \\{\left[(1+R)^{x}-1\right](1+R) } \\Q= {[750000 \times 0.009375} \\\left.\therefore Q=1.009375)^{40}-1\right](1.009375) \\\therefore 1539.6=\$ 1539 . \sigma \text { Ans. }\end{array}IF YOU HAVE ANY DOUBT THEN DON'T HESITATE TO ASK THROUGH COMMENTS I WILL RESPOND YOU ...