Problem
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.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.