Purchase his first home by the time he is 29 years old if he is currently 16 years old how much does he need to invest into an account earning 6.6% annual interest compounded monthly to have a $12,000 down payment when he is 29 years old
Added by Taylor T.
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Since the individual is currently 16 years old and wants to have the down payment by the time he is 29, the number of years until the down payment is needed is 29 - 16 = 13 years. Show more…
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