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Posted on Jul 31, 2024

You are planning to purchase your first house with a down payment of 5 0 , 0 0 0 . Currently, you have 1 5

You are planning to purchase your first house with a down payment of

50, 000 .

Currently, you have

15, 000

in the bank which earns interest at

8 %

compounded quarterly. How many years will you have to wait before you can afford the down payment?

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