Problemsarah wants to go buy a house in hawaii 15 years, Ask an Expert

Finance

Problem:

Sarah wants to go buy a house in Hawaii 15 years from now. She estimates she'll need $400,000 at that time to make this purchase. She plans to save each month at the end of the month for the next 15 years, and invest it at a rate of 8% a year, compounded monthly.

Requirement:

Question: How much should Sarah save each month?

Note: Explain in detail.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91174605

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