Madeline and Jonathan want to purchase a home in eight years. They will contribute $450 each month to a savings account with 4.15% interest, compounded quarterly. What is the future value of this investment, when Madeline and Jonathan need to make a down payment?

$51,131.47
$16,975.13
$50,925.38
$51,453.73

Question

Madeline and Jonathan want to purchase a home in eight years. They will contribute $450 each month to a savings account with 4.15% interest, compounded quarterly. What is the future value of this investment, when Madeline and Jonathan need to make a down payment?

$51,131.47
$16,975.13
$50,925.38
$51,453.73

anonymous · Answer

I=prt

anonymous · Answer

I think. hah yeah I'm not the best at these but try it