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hiralee

  • 3 years ago

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?

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  1. ZhangYan
    • 3 years ago
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    \[40,000(1+0.0305)^{5}\]

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