Month after taxes


You and your new spouse each bring home $1500 each month after taxes as well as other payroll deductions. By living frugally, you intend to live on just one paycheck and save the other in mutual fund yielding 7.95% compounded monthly. How long will it take to have enough for the 20% down payment on $175,000 condo in the city? (Round your answer to two decimal places.)

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Finance Basics: Month after taxes
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