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Purpose:
The purpose of this assignment is to create a savings plan for a down payment and to use a compound interest calculator.
Some time in the future, you will likely want to make a large purchase that will require a down payment. A down payment is a percent of the purchase price that is used to reduce the loan amount. For example, if you want to purchase a $200,000 house with a down payment of 10%, you will need a $20,000 down payment ($200,000 x 10% = $20,000).
Tasks(s):
Describe a major purchase that you would like to make in the future. Include in the discussion the expected purchase price and the down payment amount you need to save before the purchase.
Using the Nerdwallet.com compound interest calculator, create a monthly saving plan to achieve your down payment amount. Consider your income and budget when creating your savings plan. You will need the following information to use the compound interest calculator
Using Microsoft Word, create a response paper that addresses
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