Question

I need help... someone help me.... I need the answer and you want to save 20,000 for a down payment on a home by making regular monthly deposits over five years please no links or I will report you

Answer 1

Answer:

279.36

Step-by-step explanation:

start by finding the effective rate: .07/12= .0058333333333

x= payment

$20000=x\frac{(1+.0058333333333)^{5*12}-1}{.0058333333333}\\20000=71.59290171x\\x=279.3573039$