How much money should she place in this savings account


Rhonda plans to buy the house of her dreams in 11 years. She has estimated that the price of the house will be $84,023 at that time. She is able to make equal deposits every month at the end of the month into a savings account at an annual rate of 9.93 percent, compounded monthly. How much money should she place in this savings account every month in order to accumulate the required amount to buy the house of your dreams?

Solution Preview :

Prepared by a verified Expert
Finance Basics: How much money should she place in this savings account
Reference No:- TGS02817208

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)