Kelly Martinez
08/11/2024 · Junior High School

The Weidmans want to save \( \$ 45,000 \) in 4 years for a down payment on a house. If they make monthly deposits in an account paying \( 12 \% \), compounded monthly, what is the size of the payments that are required to meet their goal? (Round your answer to the nearest cent.) \( \$ 735.02 \)

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The Weidmans need to make monthly payments of $735.02 to save $45,000 in 4 years.

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