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bachelor in business administration
Polytechnic State University Sanluis
Jan-2006 - Nov-2010
CPA
Polytechnic State University
Jan-2012 - Nov-2016
Professor
Harvard Square Academy (HS2)
Mar-2012 - Present
After one year living in a university residence, Mary-Beth (see Problem 24) decides to rent an apartment for the remaining three years of her degree. She has found a nice location that will cost $450 per month; rent for the first and last month must be paid up front. How much money would Mary-Beth need to have in her bank account right now to be sure she will always have enough for rent? The bank account pays 3.75 percent interest, compounded monthly
Int-----------ere-----------st -----------Rat-----------e=3-----------.75-----------/12-----------=0.-----------313----------- Pe-----------rio-----------d o-----------f a-----------nnu-----------ity----------- =3-----------*12-----------=36----------- mo-----------nth-----------s B-----------ut -----------the----------- 1s-----------t a-----------nd -----------36t-----------h p-----------aym-----------ent----------- ha-----------s t-----------o b-----------e m-----------ade----------- up-----------fro-----------nt -----------PV -----------of -----------the-----------se -----------two----------- pa-----------yme-----------nts-----------=45-----------0+4-----------50/-----------(1.-----------003-----------13^-----------36)-----------