Bob and Janeare saving to buy a boat at the end of 5 years. If the boa

1.	Bob and Janeare saving to buy a boat at the end of 5 years. If the boat costs $25,000, and they can earn 8 percent a year on their savings, how much do they need to put aside at the end of every year 1 through 5? Round off your final answer to three digits after the decimal point.
Answer» Answer: 8% ayear = $\frac{8}{100} X25000=2000$ ⇒ every YEAR they can put 2000 up til the 5TH year $=10000$ at the END of the 5th year so they need to add 15000 plus from their 8% yearly savings before they can buy the boat⇒ That is 10.000$ Step-by-step explanation:

Bob and Janeare saving to buy a boat at the end of 5 years. If the boat costs $25,000, and they can earn 8 percent a year on their savings, how much do they need to put aside at the end of every year 1 through 5? Round off your final answer to three digits after the decimal point.

Answer»

Answer:

8% ayear = $\frac{8}{100} X25000=2000$ ⇒

every YEAR they can put 2000 up til the 5TH year

$=10000$ at the END of the 5th year

so they need to add 15000 plus from their 8% yearly savings before they can buy the boat⇒

That is 10.000$

Step-by-step explanation:

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Bob and Janeare saving to buy a boat at the end of 5 years. If the boat costs $25,000, and they can earn 8 percent a year on their savings, how much do they need to put aside at the end of every year 1 through 5? Round off your final answer to three digits after the decimal point.

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