Question: You want to save ( deposit ) $ 6 , 6 5 4 per year, starting next year, to make a down payment of $

You want to save (deposit) $6,654 per year, starting next year, to make a down payment of $84,524 on a vacation home. If you can earn 4.93 percent on your investment, for how many years will you have to make deposits? Answer to 4 decimals

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!