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How many months will it take you to accumulate

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Question - You receive a graduation gift of $10,000 from your parents. You decide that you want to use this money for a down payment for a house and estimate you will need $80,000 for that down payment. Given your success in the real estate program, you land a great job and can afford to add $750 per month to your investment account that is expected to earn 7% annually - compounded monthly. How many months will it take you to accumulate the $80,000 (round up to the nearest whole number).

Reference no: EM133064790

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