You would like to accumulate $12,000 for a down payment on a house by depositing $400...

You would like to accumulate $12,000 for a down payment on a house by depositing $400 on the first of every month in a savings account that pays 12% annual interest, compounded monthly. How long will it take you to reach your goal?

Expert Solution

ekkarill92 answered 1 year ago

You would like to buy a house and will need a down payment of $19,367 in...

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You would like to buy a house and will need a down payment of $18,119 in...

You would like to buy a house and will need a down payment of $18,119 in 6 months. How much would you have to invest, each month, starting next month, for 6 months to exactly pay for the down payment if your investments earn 3.7% APR compounded monthly?

Suppose you want to accumulate $9,365.60 for a down payment for a house. You will deposit...

Suppose you want to accumulate $9,365.60 for a down payment for a house. You will deposit $400 at the ending of every 2 months in an account that credits interest every 2 months at the rate of 18% per annum. How long will it take you to achieve your goal?

In order to accumulate enough money for a down payment on a house, a couple deposits...

In order to accumulate enough money for a down payment on a house, a couple deposits $472 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 3 years? Round to the nearest dollar

Kari would like to save $10,000 for a down payment on a house. Illustrate the difference...

Kari would like to save $10,000 for a down payment on a house. Illustrate the difference in years it will take her to double her current $5,000 savings, $5000 invested today at 6% would be worth $10000 in ? years. $5000 invested today at 12% would be worth $10000 in ? years. $5000 invested today at 18% would be worth $10000 in ? years

In order to accumulate enough money for a down payment on a house,a couple deposits $437per...

In order to accumulate enough money for a down payment on a house,a couple deposits $437per month into an account paying 6% compounded monthly. If payments are made at the end of each period,how much money will be in the account in 6 years?

In order to accumulate enough money for a down payment on a house,a couple deposits $718per...

In order to accumulate enough money for a down payment on a house,a couple deposits $718per month into an account paying 6%compounded monthly. If payments are made at the end of each period,how much money will be in the account in 4years?(Round o the nearest dollar.)

Ann would like to buy a house. It costs $2,500,000. Her down payment will be $50,000....

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You would like to save $50,000 for a down payment on a home in five years. How much do you need to have saved today if your investments are expected to earn a return of 5% per year? $43,133 $37,500 $38,960 $50,000 $39,176

You would like to purchase a townhouse and you wish to save forthe down payment....

You would like to purchase a townhouse and you wish to save for the down payment. What amount invested at the end of each year at 10% annually will grow to $10,000 at the end of five years

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