Mark Deposits $900 at the End of Each Month in a Savings

question 75

Multiple Choice

Mark deposits $900 at the end of each month in a savings account earning 4.5% quarterly. How soon can he buy his first car assuming that he needs $8 000 for a decent car.

• A) 8.76 months
• B) 8.52 months
• C) 9.06 months
• D) 9 years
• E) 8.86 months

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