You want to purchase a house in 7 years. The estimated cost is $180, 000.00 and you want to make 20% down payment. How much do you need to save per month in order to cover your down payment?
Answer: The answer to this depends on how long you are saving for because you need to take 36,000 divided by the amount of months you are paying for. ( 36,000 is your 20% down payment)
