Question: 6) A couple will need $40,000 for a down payment on a home in ten years. They plan to invest $5,000 up front and make

6) A couple will need $40,000 for a down payment on

6) A couple will need $40,000 for a down payment on a home in ten years. They plan to invest $5,000 up front and make a payment at the end of each month for the full ten years. Assume the account earns 7% monthly. (a) (3 points) How much will the initial deposit be worth in ten years? Round to two decimal places. (b) (3 points) How much should the monthly payment be? Round to two decimal places

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