You want to buy a $200,000 house and plan to pay 20% of the purchase price as a down payment and finance the rest. You currently have $2,000 to invest. If you invest your $2,000 in a mutual fund with an average annual return of 6%, then how many years must you wait to achieve your goal?

Answer rating: 100% (QA)

Number of years 91 years Solution Total amount to be accumulated 200000 The 20... View the full answer