Asked by F0reveryoung

In 6 years, Jim wants to have $47,230 to buy a new car.
(a) How much must Jim save each month if the interest rate is 6% compounded monthly?
$ ______

(b) How much of the $47,230 does Jim actually deposit and how much of it is interest?
$______(deposit)
$______(interest)
Answered by Writeacher
http://www.google.com/search?rlz=1C1GGGE_enUS379US379&sourceid=chrome&ie=UTF-8&q=calculating+interest

One of these links should have a formula to help you calculate these.
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