Nancy Jackson is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that she will need $37,000 for the down payment. If Nancy can invest in a fund that pays 7.40 percent annual interest, compounded quarterly, how much will she have to invest today to have enough money for the down payment

Explanation:

Down payment =   37,000 given in the question

Rate of return   =   7.4%/4  =  1.85% quarterly return

Total Quarterly  =  5*4        = 20

Amount Required =  ?

We will apply the Compound Formula = S=p(1+i)^n

S is the future payment that is 37000

P is present payment required to be invested

I is the interest rate that is being paid on investment 7.4% annually divide it by 4 to have quarterly return

N is the number of quarters

P=S/(1+i)^n

P=37,000/(1+1.85% )^20

P=37,000/1.4428

P=25,644

Amount that is required to be invested today is $25,644

b. a single paragraph.

a paragraph is a series of sentences that are organized and make sense, and are all related to a single topic . almost every piece of writing you do that is longer than a few sentences should be organized into paragraphs. this is because paragraphs show a reader where the subdivisions of an essay begin and end, and thus the reader see the organization of the essay into subjects in order to be able to understand its main points.