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How many years before you have enough money

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Question - You currently have $40,000 and you figure you need to have a 20% down payment plus an additional 5% of the loan amount for closing costs. Assume the type of house you want will cost about $300,000 and you can earn .75% per month, how many years before you have enough money for the down payments and closing costs?

Reference no: EM132793542

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