Use towards the down payment in an account

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Reference no: EM13971874

You want to save $25,000 for a down payment on a house in 7 years. You presently have saved $8,500 that you will use towards the down payment in an account that will earn 5% annually. How much do you need to save monthly for 7 years at 6% to achieve your $25,000 goal?

Reference no: EM13971874

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