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PLEASE HELP ASAP Rich needs $50,000 for a down payment on a home in 5 years. How much must he deposit into an account that pays 1.16% interest, compounded quarterly, in order to meet his goal?
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24 votes
24 votes
PLEASE HELP ASAP Rich needs $50,000 for a down payment on a home in 5 years. How much must he deposit into an account that pays 1.16% interest, compounded quarterly, in order to meet his goal?

User Demurgos
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2.6k points

2 Answers

28 votes
28 votes

Answer:

37 ,123.52

Explanation:

User Zamfir Stefan
by
3.6k points
21 votes
21 votes

Answer:

37,123.52

Explanation:

I hope this helps! c:

User Nicholas White
by
3.4k points
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