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Find how much alicia put away into an investment each year

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Reference no: EM132760321

Problem 1: Alicia gets a yearly alimony payment from her ex-husband and wants to saves enough to put a 20% down payment on a home in 3 years. Median homes go for $650000. How much should Alicia put away into an investment each year if she can get a 6% return a year?

Option 1: 48634

Option 2: 23998

Option 3: 20098

Option 4: 40834

Reference no: EM132760321

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