Andy would like to purchase a house in five years. He expects that he's going to need $200,000 as a down payment. He currently has $50,000 and would like to know how much he needs to set aside at the end of each of the next five years, invested at 6%, so that he will have enough for the down payment?

Answer rating: 100% (QA)

To determine how much Andy needs to set aside at the end of each of the next five years to reach his ... View the full answer