Jacques Received the Proceeds from an Inheritance on March 15

Short Answer

Jacques received the proceeds from an inheritance on March 15. He wants to set aside, in a term deposit on March 16, an amount sufficient to provide a $45,000 down payment for the purchase of a home on November 1. If the current interest rate on 181-day to 270-day deposits is 5¾ %, what amount should he place in the term deposit?