You want to purchase a house in 7 years. The estimated cost is $160,000.00 and you want to make a 20% down payment. How much do you need to save per month in order to cover your down payment?

Question

brittanydosey · Answer

Multiply the cost of the house by how much you want to put down. Put this number aside. Figure out how many months are in the time frame that you will be saving. Next, divide your first number by the number of months. ROUND TO THE NEAREST PENNY.

brittanydosey · Answer

@killerdime20 @kelliegirl33

anonymous · Answer

$$.20\times160000=32000$$ this is the number we set aside
7 years x 12 months in a year=84 months total
$$32000/84=380.952381\approx380.95$$