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Consider the following scenarios: Wagner Family The Wagners have saved $5,000 towards their goal to have $50,000 for a down payment on a house
Consider the following scenarios: Wagner Family The Wagners have saved $5,000 towards their goal to have $50,000 for a down payment on a house in 6 years. They will put the $5,000 in an account along with money they will deposit annually. They don't know how much that annual deposit should be, so they've asked you to calculate it They have found a savings institution that will pay 6% interest. Audette Family The Audettes have set a goal to have $50,000 for a down payment on a house in 6 years They have not saved anything so far They have asked you to calculate how much they will need to put away each year to achieve the $50,000 down-payment al They have found a savings institution that will pay interest. E C
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