jayrobinson258
contestada

I need help... someone help me.... I need the answer and you want to save 20,000 for a down payment on a home by making regular monthly deposits over five years please no links or I will report you

I need help someone help me I need the answer and you want to save 20000 for a down payment on a home by making regular monthly deposits over five years please class=

Respuesta :

madethisfortwitch1

Answer:

279.36

Step-by-step explanation:

start by finding the effective rate: .07/12= .0058333333333

x= payment

[tex]20000=x\frac{(1+.0058333333333)^{5*12}-1}{.0058333333333}\\20000=71.59290171x\\x=279.3573039[/tex]

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