After graduating four years later, Maria wants to buy an apartment in the city centre. An apartment costs $20,000 and the price is expected to increase by 4% each year. Maria wants to sell her old house in the suburbs and make an annual deposit of 8%. How much will Maria's new apartment cost and how much does she need to save today?

Answer rating: 100% (QA)

To calculate the cost of Marias new apartment after four years we need to consid... View the full answer