Mathematics

Question

Sandy knows that she needs $82,000 for a 15% down payment on a house she can afford. She found an investment that earns 3.25% interest
compounding monthly.
How much should she put in the account now, rounded to the nearest dollar, to ensure she has the down payment
amount in 5 years?
$12,034
$38,915
$69,717
$72,374

1 Answer

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