In 4 years Colleen and Bill would like to have $30,000 for a down payment on...

 

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In 4 years Colleen and Bill would like to have $30,000 for a down payment on a house. How much should they deposit each month into an account paying 4% compounded monthly to have $30,000 after 48 deposits? li In 4 years Colleen and Bill would like to have $30,000 for a down payment on a house. How much should they deposit each month into an account paying 4% compounded monthly to have $30,000 after 48 deposits? li

Answer rating: 100% (QA)

Answer We can solve this problem using the Future Value FV formula for compound interest FV P 1 rn n... View the full answer