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You've finally graduated from college and are starting your working career, having just obtained a good paying job. You hope to purchase a house 5
You've finally graduated from college and are starting your working career, having just obtained a "good paying" job. You hope to purchase a house 5 years from now. According to your calculations, you'll need to have saved $26,344 for a down payment on the loan you'll take out for the house. How much should you set aside and invest each year (starting a year from now) at an annual effective interest rate of 5.3% so that you have this down payment ready when taking out a loan for your house? Answer tolerance: +/- $1.00
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