View the step-by-step solution to:

# You plan to buy the house of your dreams in 12 years. You have estimated that the price of the house will be \$90,291 at that time.

help with excel. You plan to buy the house of your dreams in 12 years. You have estimated that the price of the house will be \$90,291 at that time. You are able to make equal deposits every month at the end of the month into a savings account at an annual rate of 4.35 percent, compounded monthly. How much money should you place in this savings account every month in order to accumulate the required amount to buy the house of your dreams?

Money should you place in... View the full answer

7375.41 rounded... View the full answer

1 comment
• correction: Compounding of n 12yrs *12 therefore 90291/188.63588 =478.6523077
• payaljain3
• Jun 13, 2018 at 1:13am

Present value or installments to be made It refers to ascertaining the... View the full answer

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

### -

Educational Resources
• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents