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You have started your first job today, and you want to buy a house within 4 years.You are currently saving for the down payment. You
- You have started your first job today, and you want to buy a house within 4 years.You are currently saving for the down payment. You plan to save $4,000 the first year.You also anticipate that the amount you'll save each year will rise by 15% per year as your salary increases over time. Interest rates can be expected to remain at 5% during these upcoming 4 years, and all savings occur at year-end.How much money will you have for a down payment in four years?
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