Average Joe graduates from Eller and starts working in Tucson earning $55,000 annually, the average starting...
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Average Joe graduates from Eller and starts working in Tucson earning $55,000 annually, the average starting salary for Eller undergraduates. The median Tucson home price is $300,000. Joe wants to know how long it will take him to save up $60,000, which he will use as a 20% down payment on a $300,000 home. The maximum Joe can save each month is $750, and he will invest in a moderate risk portfolio that should earn 3.5% annually. How many months will it take Joe to save $60,000? a) 72 b) 81 O c) 54 d) 67 Average Joe graduates from Eller and starts working in Tucson earning $55,000 annually, the average starting salary for Eller undergraduates. The median Tucson home price is $300,000. Joe wants to know how long it will take him to save up $60,000, which he will use as a 20% down payment on a $300,000 home. The maximum Joe can save each month is $750, and he will invest in a moderate risk portfolio that should earn 3.5% annually. How many months will it take Joe to save $60,000? a) 72 b) 81 O c) 54 d) 67
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It will take Joe 67 months to save 60000 detailed e... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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