Multiple Choice
Alexis want to buy a house in 5 years.She wants to save $75,000 over the next five years for a down payment.If she can earn an annual rate of 9% on her savings,how much must she deposit in equal payments at the end of each month for the next five years to reach her goal?
A) $1,250
B) $765.87
C) $994.38
D) $8,420.13
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q123: Sly's Used Cars just sold you a
Q124: What is the present value of an
Q125: Your money will grow or compound _
Q126: It is now five years later,and Adrian
Q127: Your great-aunt wants to help with your
Q129: Your daughter has been saving $500 a
Q130: Suppose that you had deposited $100 in
Q131: What is the present value today of
Q132: Samantha Jee put $3,000 into a mutual
Q133: With a mortgage loan of $150,000 at