You Want to Save $30,000 for a Down Payment on a Home

question 13

Multiple Choice

You want to save $30,000 for a down payment on a home by making regular monthly deposits over four years. If the APR is 7%, how much money do you need to deposit each month?

• A)$543.39
• B)$419.04
• C)$668.08
• D)$625.00

---

Definitions:

Smart Guides

Visual aids in graphic design and layout software that help align objects, shapes, or text evenly.

Gridlines

Thin lines that form a grid on charts, graphs, or software interfaces, helping in the accurate placement and alignment of elements.

Text Pane

A section within a software interface where textual content can be viewed or edited.

SmartArt

A graphics tool included in Microsoft Office applications that enables users to create visually appealing diagrams, flowcharts, and organizational charts easily.