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How long will it be before you have enough money for the

Suppose you want to buy a new house. You currently have $32,521 and you figure you need to have a 15% down payment plus an additional 7% of the loan amount for closing costs. Assume the type of house you want will cost about $250,000 and you can earn 10.00% per year. How long will it be before you have enough money for the down payment and closing costs?

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Financial Management: How long will it be before you have enough money for the

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