Pat is saving $425 per month for a down payment on her first house. the house she wants sells for $95,000 and the lender requires 5% down. how long will pat have to save before she has enough for the down payment?
12 months

Pat would have to save for 118 months or approximately 9.8 years for her to be able to buy the house that she wants at $95,000. The computation are as follows: 

$95,000 X 0.5 (% on 1st down payment) = $47,500 
$95,000 - $47,500 = $50,000 (Pat's 1st down payment) 

To compute for how long she could save for $50,000:
$50,000 / $425 = 117.64 or 118 months