The amount that Adam needs to save per year, month, week, and day to meet up with the required contribution of $3,000 in down payment 4 years are as follows:
Period Expected Savings
Year $750.00
Month $62.50
Week $14.423
Day $2.055
<h3>What is a down payment?</h3>
A down payment is an initial amount that a purchaser of an expensive item pays as part of the mortgage terms.
It is an upfront payment made to reduce the amount of loan granted to the buyer.
<h3>Data and Calculations:</h3>
Contribution for down-payment = $3,000
Period of saving = 4 years
Period Expected Savings
Year $750 ($3,000/4 years)
Month $62.50 ($3,000/48 months)
Week $14.423 ($3,000/208 weeks)
Day $2.055 ($3,000/1,460 days)
Learn more about savings at brainly.com/question/25787382
