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Calc Payment amount to reach an investment goal

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Calc Payment amount to reach an investment goal

You’re saving up for a down payment on a house. You expect to buy in about five years, and you’ll be looking in the $250,000 range. You need to make at least a 10% down payment, plus $2500 for closing costs. If your money fund pays 5.5%, posted and compounded every month, how much a month do you need to deposit?
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