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You decide that you are going to buy a house in 5 years. You believe you will need $ 2 5 , 0 0 0

You decide that you are going to buy a house in

5

years. You believe you will need $

25, 000

for

a down payment to qualify for a mortgage loan. Your bank offers a saving account that pays a

rate of

4 % .

How much money will you need to put in the bank at the end of each of the next

5

years in order to have the $

25, 000

down payment? MAKE A EXCEL SHOW THE STEP

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