Your Bank Account Pays Monthly Interest with an APR of 8%.You

question 79

Multiple Choice

Your bank account pays monthly interest with an APR of 8%.You are planning to buy a house in 6 years,and you wish to save $40,000 for the down payment.If you currently have no money in your account,how much will you need to save at the end of each month?

• A)$451.18
• B)$500.34
• C)$555.56
• D)$434.66
• E)$438.53

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Definitions:

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A political ideology or party that advocates for governance according to a constitution that limits the powers of government and guarantees individual rights.