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Find how long before have enough money for down payment

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Reference no: EM132646921

Suppose you want to buy a new house. You currently have $15,000 and you figure you need to have a 10% down payment. If the type of house you want costs about $200,000 and you can earn 7.5% per year,

Question 1: How long will it be before you have enough money for the down payment?

Reference no: EM132646921

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