Question: You are saving for a down payment for a house. You can afford to save $ 2 5 0 at the end of each month

You are saving for a down payment for a
house. You can afford to save $250 at the
end of each month and can earn a return of
5% with monthly compounding of interest.
How long will you have to keep up this
savings plan before you accumulate a down
payment of $20,000?

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