If your goal is to purchase a condominium 6 years after graduation, you will have to save $ at the beginning of each month (assume equal installments) to cover the down payment, points, and closing costs given the following. The Condo: Current price of the condominium Expected annual appreciation $97,500 2% Your Investments: After-tax return 6% compounded semi-annually Closing Costs: Points (as % of the mortgage value*) "other" closing costs (as % of purchase price) 3% 4% Equity: Required down payment 10% mortgage value = purchase price - down payment