Question 17 • Mathematical Models with Applications - MA4072 CR
The deposit grows to $9,000(1 + 0.06/4)^(4 × 2) = $10,138.43 after 2 years. Subtract this from the $18,000 goal: $18,000 − $10,138.43 = $7,861.57, so she needs an additional $7,861.57.
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