How much money will the McCaffrey's have to set aside each month so as to have enough saved up for a down payment and closing costs in the $170,000 house within 24 months? Assume that the closing costs amount to 2% of he loan and the down payment is 20% of the house price. Interest rate for the saving account is 1.5% with monthly interest.

(Please put the inputs for the amount of periods(N), interest (i/y), PV, FV, and PMTs so i can follow along better)

Answer rating: 100% (QA)

INVESTMENT REQUIRED AFTER 2 YEAR 24 MONTHS 170000 DOWN PAY... View the full answer