Suppose you start saving today for $20,000 down payment that you plan to make on a house in 10 years.
Assume you make no deposits into the account, with quarterly compounding and an APR of 3.3%, after your initial deposit.
How much would you have to deposit now to reach your $20,000 goal in 10 years?
I used the A=P(1+R/N)^NT formula and got 27781.73
Answer:
