How much must Helen set aside in savings account

Reference no: EM131806932

Question: Helen pays rent of $400 per month for the academic year (September through May). She is going to Australia for the summer and won't be working. How much must she set aside in her savings account on June 1 to pay her rent for the next year? The account pays 6% interest with monthly compounding.

Reference no: EM131806932

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