Question: If you want to save $40,100 for a down payment on a home in five years, assuming an interest rate of 4.5 percent compounded annually,

If you want to save $40,100 for a down payment on a home in five years, assuming an interest rate of 4.5 percent compounded annually, how much money do you need to save at the end of each month?

$597.21

$616.54

$628.51

$598.58

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