Question
You are hoping to buy a mansion in Ellicott City in 13 years. Your down payment amount will be approximately $140,000 (10% of the cost
You are hoping to buy a mansion in Ellicott City in 13 years. Your down payment amount will be approximately $140,000 (10% of the cost of your mansion). How much must you set aside in an account that pays an annual interest rate of 14% today (to save for the down payment)?
- A. $4810.59
- B. $25,489.7
- C. $520.00
- D. $42300.87
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Finance Applications And Theory
Authors: Marcia Cornett, Troy Adair, John Nofsinger
1st Edition
0073382256, 9780073382258
