You want to purchase a house in 7 years. The estimated cost is $180, 000.00 and you want to make 20% down payment. How much do you need to save per month in order to cover your down payment?

Question

Mathematics

Thomas Wilkerson

11 March, 08:42

You want to purchase a house in 7 years. The estimated cost is $180, 000.00 and you want to make 20% down payment. How much do you need to save per month in order to cover your down payment?

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Sheldon Olsen · Answer 1

Answer: The answer to this depends on how long you are saving for because you need to take 36,000 divided by the amount of months you are paying for. (36,000 is your 20% down payment)