Question: ou need to have $ 3 0 , 0 0 0 for a down payment on a house in 4 years. If you can earn

ou need to have $30,000 for a down payment on a house in 4 years. If you can earn an annual interest rate of 4 percent, how much will you have to deposit today?
Multiple Choice
$25,156.84
$22,797.53
$24,870.02
$24,657.81

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!