Will his savings be enough to buy the house

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Reference no: EM132042717

An investor would like to buy a house. He plans to deposit $30,500 every year for the next 15 years. His dream house has a current cost of $550,000. If the house price will increase at average of 4% per year and his savings will go into a savings fund that pay a 8% rate per year. Will his savings be enough to buy the house of his dreams in 15 years?

Reference no: EM132042717

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