How much must he set aside in his savings account

Reference no: EM133278157

Question - Martin pays rent of $650 per month for the 9-month academic year. He is going to travel the world this summer and won't be working. How much must he set aside in his savings account for the 3-month summer to cover his rent for next year? The savings account earns 6% with monthly compounding.

Reference no: EM133278157

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