Martin wants to purchase a home in six years. He will contribute $650 each month to a savings account with 3.51% interest, compounded quarterly. What is the future value of this investment, when Maurice needs to make a down payment?

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listen, that's chump change if you know martin's number tell him to give me a ring i can hook him up with some sweet real estate futures handled out of turks-caicos islands

err, have you tried working out how much money is earned each quarter?

each quarter, his nest egg increases by adding 650*4 (4 monthly payments) and it also multiplies by a factor of ( 1 + (0.0351)/4) (because quarterly)

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