How much must he set aside in his savings to account

Reference no: EM13304974

Martin pays rent of $500 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 to account for the 3-months summer to cover his rent for next year? The savings account earns 3% with monthly compounding.

Reference no: EM13304974

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