Question: Sandy knows that she needs $82,000 for a 15% down payment on a house she can afford. She found an investment that earns 3.25% interest
Sandy knows that she needs $82,000 for a 15% down payment on a house she can afford. She found an investment that earns 3.25% interest compounding monthly. How much should she put in the account now, rounded to the nearest dollar, to ensure she has the down payment amount in 5 years? (4 points)
$12,034
$38,915
$69,717
$72,374
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
