You plan to buy a house valued at GH₵ 45000 five years from now. Interest rate on the market is expected to remain at 10%. If you deposit GH₵6500 every year for 5years, in advance, will you meet your target? If not, calculate how large must your deposits be at the same interest rate to meet your target?

Answer rating: 100% (QA)

To determine whether you will meet your target of buying a house valued at GH45000 five years from n... View the full answer