Stuart wishes to have 14000 to buy a used car three years, Ask an Expert

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Stuart wishes to have $14,000 to buy a used car three years from now. He plans to accomplish this, through an account with a nominal interest rate of 3% compounded monthly, by depositing $300 at the end of each month during the first year, and Q at the end of each month during the second two years. What is the smallest Q that will suffice?

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Financial Management, Finance

Category:- Financial Management
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