Mandeep is making monthly deposits into a savings account that pays 4.75% compounded quarterly. She plans to have $25,000 in six years to use as a down payment on a house. What should be the size of her monthly payments? How much of the $25,000 is interest earned?

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The Answer of Mandeep is making monthly deposits into a savings account that pays 4.75% compounded quarterly. She plans to have $25,000 in six years to use as a down payment on a house. What should be the size of her monthly payments? How much of the $25,000 is interest earned?

Mandeep Is Making Monthly Deposits into a Savings Account That