A part time student hopes to have $20,000 available for a down payment on a...

50.1K

Verified Solution

Question

Finance

A part time student hopes to have $20,000 available for a down payment on a house when she graduates from her program in 2 years. How much does she need to deposit each month into an account that earns 4.02% interest in order to save $20,000 in 2 years? Use two decimal place accuracy.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students