Question: Jacques received the proceeds from an inheritance on March 15 . He wants to set aside, in a term deposit on March 16 , an

Jacques received the proceeds from an inheritance on March 15 .

Jacques received the proceeds from an inheritance on March 15 . He wants to set aside, in a term deposit on March 16 , an amount sufficient to provide a $45,000 down payment for the purchase of a home on November 1. If the current interest rate on 181 -day to 270 -day deposits is 53/4%, what amount should he place in the term deposit? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Amount $

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