13. Your parents would like to help you purchase your first home. They know you will need
$19,351.43 for a down payment in 10 years. They
found a bank who is willing to pay an annual
interest rate of 9% compounded monthly. How
much do your parents need to deposit into the
account each month?
A) $100.00
C) $2,015.86
B) $245.14
D) $145.48