The town of Bay Harbor is planning to buy five new hybrid police cars in 4 years. The
Chapter 0, Problem 33(choose chapter or problem)
The town of Bay Harbor is planning to buy five new hybrid police cars in 4 years. The cars are expected to cost $38,500 each. a. What equal quarterly payments must the city deposit into a sinking fund at 3.5% interest compounded quarterly to achieve its goal? b. What is the total amount of interest earned in the account?
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