Multiple Choice
If you want to save $40 000 for a down payment on a home in five years,assuming an interest rate of 4.5 percent compounded annually,how much money do you need to save at the end of each month?
A) $666
B) $609
C) $622
D) $597
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q3: Alexis wants to have saved $600 000
Q4: Present value of the first year is
Q5: Ralph wants to know what he should
Q6: In which situation is simple interest the
Q7: Which of the following is a true
Q9: What is the highest effective rate attainable
Q10: Hazel needs to plan the mortgage amount
Q11: The concept of time value of money
Q12: Future value depends on the interest rate
Q13: To convert the table from ordinary annuity