How much money will the Halls have to set aside each month so as to have enough saved up for a down payment on the $195,000 house within 3 years, if the savings can grow at 0.8%? Assume that the closing costs amount to 1.8% of the loan and the down payment is 20% of the house price. The halls also plan to use half of their savings balance toward the down payment.

Price of House at today's dollar:

Inflation:

House price at the time of purchase:

Down Pay:

Down Payment:

Closing Costs:

Total Money needed for Down Payment and Closing Cost:

Annual Rate of return on investments:

Number of months until purchase of house:

Deposits required to accumulate the down pmt and closing costs: