1. You want to buy a house that costs $209,215. The bank requires that you have...

 

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1. You want to buy a house that costs $209,215. The bank requires that you have a 10% down payment. You have $13,193 today. If you put that money in a bank that offers 8.4% annual interest today, how many years before you havethe down payment? 2. You are going to save $243 at the end of each of the next 7 years in a bank account with a 10% interest rate. If you leave the money in the bank, how much will you have 3 years after the date of the last payment? 1. You want to buy a house that costs $209,215. The bank requires that you have a 10% down payment. You have $13,193 today. If you put that money in a bank that offers 8.4% annual interest today, how many years before you havethe down payment? 2. You are going to save $243 at the end of each of the next 7 years in a bank account with a 10% interest rate. If you leave the money in the bank, how much will you have 3 years after the date of the last payment?

Answer rating: 100% (QA)

1 To calculate how long it will take to save for the 10 down payment House price is 209... View the full answer