2. Lindsay is living with her mother but looking to purchase her first home. She just graduated from Concordia and lande
Posted: Mon Apr 25, 2022 8:38 am
2. Lindsay is living with her mother but looking to purchase her
first home. She just graduated from Concordia and landed her first
full-time job; she has no savings. The property she is eyeing is
$150,000. She wants a conventional mortgage. She figures she can
save $975 at the beginning of each month and earn 7% compounded
monthly. Approximately, how many years will it take her to
accumulate the minimum required down payment for a conventional
mortgage?
first home. She just graduated from Concordia and landed her first
full-time job; she has no savings. The property she is eyeing is
$150,000. She wants a conventional mortgage. She figures she can
save $975 at the beginning of each month and earn 7% compounded
monthly. Approximately, how many years will it take her to
accumulate the minimum required down payment for a conventional
mortgage?