Question: To help with a down payment on a home, Melissa is going to invest. Assuming an interest rate of 1.66% compounded monthly, how much would

To help with a down payment on a home, Melissa is going to invest. Assuming an interest rate of

1.66%

compounded monthly, how much would she have to invest to have

$49,600

after

8

years?

Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the

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