Question
You want to buy a house in 15 years that costs $300,000 now. Inflation is 3%. How much do you need to save each year
You want to buy a house in 15 years that costs $300,000 now. Inflation is 3%. How much do you need to save each year to be able to buy the house if you can earn 6% (compounded annually) on your savings?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
13th edition
978-1285027371, 128502737X, 978-1133541141
