You currently have $21,500 in an account you are setting aside for the down payment on a house.

You plan to purchase the house in about three years and are hoping to put 20% down on the home. You also plan to add $7,000 to the account at the end of each year. If you can earn 8% per year, what is the max value home you will be able to purchase and still put 20% down?

Answer rating: 100% (QA)

To determine the maximum value of the home you can purchase while still p... View the full answer