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Homework answers / question archive / 9 years from now, you plan to buy a house for $300,000

9 years from now, you plan to buy a house for $300,000. The down payment is 10% of the house value ($30,000).

If you can earn 2.50% interest. compounded annually, on your savings, how much do you need to deposit today to have $30,000 in 9 years?

(Round your answer to the nearest hundredth: two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00)

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