You decide you want to buy a house in 5 years and need to have a down payment of $75,000. A high yield money market account has an annual interest rate of 7 percent. Which calculation would you use to determine if a monthly deposit of $300.00 would be enough to reach your goal?(1 point) Responses FV=300(1+.00583)5−1.00583 cap f cap v is equal to 300 the fraction with numerator open paren 1 plus point 0 0 5 8 3 close paren to the 5th power minus 1 and denominator point 0 0 5 8 3 FV=300(1+.00583)60+1.00583 cap f cap v is equal to 300 the fraction with numerator open paren 1 plus point 0 0 5 8 3 close paren to the 60th power plus 1 and denominator point 0 0 5 8 3 FV=300(1+.07)60−1.00583 cap f cap v is equal to 300 the fraction with numerator open paren 1 plus point 0 7 close paren to the 60th power minus 1 and denominator point 0 0 5 8 3 FV=300(1+.00583)60−1.00583 cap f cap v is equal to 300 the fraction with numerator open paren 1 plus point 0 0 5 8 3 close paren to the 60th power minus 1 and denominator point 0 0 5 8 3
FV=300(1+.00583)60−1
This calculation would determine if a monthly deposit of $300.00 would be enough to reach your goal.