Question: Jerome is saving for a down payment for a house. He expects to pay $300,000 for a house when he graduate law school in 3

Jerome is saving for a down payment for a house. He expects to pay $300,000 for a house when he graduate law school in 3 years. Therefore, he wants to have $85,000 for the down payment and closing costs. He currently has $12,550 in his savings which earns 4.3% compounded monthly. How, much will he need to add to his saving account each month to reach his goal of $85,000 when he graduates?

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