anonymous
  • anonymous
Missy knows that she needs $40,000 for a down payment on a house. She found an investment that earns 3.05% interest compounding monthly. She would like to purchase the home in 5 years. How much should she put in the account now to ensure she has her down payment?
Mathematics
schrodinger
  • schrodinger
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anonymous
  • anonymous
\[40,000(1+0.0305)^{5}\]

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