IImust you V p 2.38 You want to save the down payment required to purchase a vacation home at the end of four years. If the required down payment is $75.000 and you can earn 6% a year on your savings account, how much do vou need to set aside at the end of each year for the next four years?
IImust you V p 2.38 You want to save the down payment required to purchase a vacation home at the end of four years. If the required down payment is $75.000 and you can earn 6% a year on your savings account, how much do vou need to set aside at the end of each year for the next four years?
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter6: Saving And Investing
Section6.1: Why Save?
Problem 6R
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Transcribed Image Text:draw the cash flow diagram please!!
2.38 You want to save the down payment required to purchase a vacation home at
the end of four years. If the required down payment is $75,000 and you can earn
6% a year on your savings account, how much do you need to set aside at the
end of each year for the next four years?
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