Business, 30.03.2020 01:08 hela9astrid

You would like to purchase a home in 3 years and need to have $40,000 as a down payment on that home. You can earn 4% on your money and need to know how much money you need to set aside every year to get that amount at the end of 3 years. (Remember, because a dollar today is worth more than a dollar in the future, it is not the same as dividing $40,000 by 3). So, you will use the calculator to figure out what payment is needed. (Include your answer for N, I/Y, PV, PMT, and FV. Do not use "%" for I/Y. Place a "0" in any item that is N/A. Round to 2 decimal places

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You would like to purchase a home in 3 years and need to have $40,000 as a down payment on that home...

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