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If You Want to Save $40 000 for a Down

Question 57

Multiple Choice

If you want to save $40 000 for a down payment on a home in five years,assuming an interest rate of 4.5 percent compounded annually,how much money do you need to save at the end of each month?


A) $666
B) $609
C) $622
D) $597

Correct Answer:

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