Solved: Money for a down payment on a house, Finance Basics

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Money for a down payment on a house

Problem:

In order to accumulate enough money for a down payment on a house, a couple deposits $259 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 6 years?

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Finance Basics: Money for a down payment on a house

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