Question

Dalya received the proceeds from an inheritance on April 5. She wants to set aside enough on April 6 so that she will have $17,000 available on October 2 to purchase a car when the new models are introduced. If the current interest rate on 91- to 180-day deposits is 7.75% pa, what amount should she then place in the term deposit?

Answer 1

nvm. i got it.