1. You would like to have a 10% down payment for a house valued at $150,000 in 3 years. You plan to put the money in your money market account earning 4%. How much do you need to save per year to reach your goal?
A - $3,585
B - $4,250
C - $48,052
D - $4,805
2. Using the information from the previous question, how much would you need to save per month?
A - 420
B - 393
C - 397
D - 5,030