If you need $35,000 for a down payment on a house in six years, how much money must you invest today at 7% interest compounded annually to achieve your goal?
A) $14,700.00
B) $20,300.00
C) $23,321.98
D) $24,954.52

Name: If you need $35,000 for a down payment on a house in six years, how much money must you invest today at 7% interest compounded annually to achieve your goal? A) $14,700.00 B) $20,300.00 C) $23,321.98 D) $24,954.52
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Question

Quizplus · Accepted Answer

FV = 35,000
N - 6
I/YR = 7
PV = ? = $23,321.98

If You Need $35,000 for a Down Payment on a House