Currently the average house in your town cost

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Currently the average house in your town cost $275,000 and is increasing in value by 6.0% per year. In six years you plan to purchase an average house and will need to have a 20% down payment. If you currently have $3,900 in your investment account, which earns 10.0% a year, how much must you save per month to have your down payment when you buy the house?

Reference no: EM131176447

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