Question
You want to buy a house in 4 years. Current down payments are $5,000 but housing costs are rising at 3% a year. You have
You want to buy a house in 4 years. Current down payments are $5,000 but housing costs are rising at 3% a year. You have $1,000 now and have put it in a savings account paying 3% APR compounded monthly.
The amount you will need to put into savings each month at 3% APR compounded monthly to have the rest of the down payment is?
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Foundations Of Financial Markets And Institutions
Authors: Frank J Fabozzi, Franco G Modigliani, Frank J Jones
4th Edition
0136135315, 978-0136135319
