Leo needs $30,000 to cover

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Leo needs $30,000 to cover the closing costs and down payment for a new home. If he wants this total saved up after 4 years,

what lump sum would he need to invest today at 9% compounded monthly?

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