You want to purchase a house in 10 years. you estimate the cost will be $184,500.00. you want to make a 20% down payment and closing costs, which are 8.5%. how much are the down payment and closing costs? how much do you need to save each month to reach your goal?

20% of 184,500 

0.20 x 184,500 

= 36 900 

And then you also want to figure out the closing cost. 

8.5% OF 184,500 

0.085 x 184,500 

= 15, 682.50 

36 900 + 15 682.50 = 52 582.50 that you have to save up in 10 years 12 months in a year, so you have 120 months to save for it. 

52 582.50 / 120 = 438.1875 you have to pay a month.

It will b. 975 because i’m guessin

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