Question

Can someone check my answers? Will fan and medal

Answer 1

1. Mary knows that she needs $45,000 for a down payment on a house. She found an investment that earns 3.15% 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?

a) $38,450.39
b) $30,871.96
c) $44,296.89
d) $52,665.27

I picked b

Answer 2

@dan815 @Preetha

Answer 3

How did you get there?

Answer 4

I guessed

Answer 5

please tag correctly @consolemcpe137

Answer 6

Does anyone know if my answer is correct?

Answer 7

I don't get it sorry.

Answer 8

I mean 3.15% of 45,000 is 1417.5 and that times 5 is 70- something but yeah I really don't know...

Answer 9

Thanks for trying.