Noah deposits $600 into an account that pays 4% annual interest compounded yearly. Noah's brother Eric agrees to sell Noah the computer he just bought in 3 years. Ericpaid $1700 for the computer, but its value is expected to decrease by 25% per year.When will Noah have enough money in his account to buy the computer assuming he pays Eric its fair market value?

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29-06-2024
Mathematics

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Noah deposits $600 into an account that pays 4% annual interest compounded yearly. Noah's brother Eric agrees to sell Noah the computer he just bought in 3 years. Ericpaid $1700 for the computer, but its value is expected to decrease by 25% per year.When will Noah have enough money in his account to buy the computer assuming he pays Eric its fair market value?

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