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You are planning to buy a new house in 2 years. You will need $6,000 for a down payment on the house at that time.
You are planning to buy a new house in 2 years. You will need $6,000 for a down payment on the house at that time. You want to know how much money you should put into your bank account now so that you can earn interest over time and get enough amount in 2 years to make the down payment. If you can earn an annual interest rate of 4.3 percent compounded annually, how much will you have to deposit today? $5,515.47 $4,305.23 $3,115.2 $6,505.23
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