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You are planning to buy your first house in 5 years. You want to save for the down payment. So, you make two deposits in
You are planning to buy your first house in 5 years. You want to save for the down payment. So, you make two deposits in a savings account at your local Credit Union. The first deposit for $ 25,000 is made today, the second deposit for $50,000 is made one year from now. Assuming an interest rate of 10%, how much money have you accumulated at the end of 5 years? $110,551 $105,227 $113,468 $110,830
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