Judit received the proceeds from an inheritance on March 25. She wants to set aside enough on

Question:

Judit received the proceeds from an inheritance on March 25. She wants to set aside enough on March 26 so that she will have $20,000 available on October 1 to purchase a car when the new models are introduced. If the current interest rate on 181- to 270-day term deposits is 3.75%, what amount should she place in the term deposit?