Question
Suppose you want to save for a down payment on a house, and you plan to save $1,500 per month for the next 3 years.
Suppose you want to save for a down payment on a house, and you plan to save $1,500 per month for the next 3 years. You want to invest the money in a mutual fund that has an average annual return of 7%. How much will you have saved at the end of the 3-year period?
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Financial Management Core Concepts
Authors: Raymond M Brooks
3rd edition
133866696, 978-0133866698
