Saving for a down payment on house

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We are saving for a down payment on a house. (a) how much do we need to deposit if we want to have enough for 15% down payment (rounded to the nearest dollar) on a $585,900 house 5 years from now if we can earn 0.085% on the deposit compounded monthly? (b) How much interest, rounded to the nearest dollar, will we earn on our deposit? (c) How much less would we have to deposit if we could earn 7 & 5/8 % compounded daily? Round to the nearest dollar.

Reference no: EM131456013

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