business math
posted by sirsir .
Katie Hector wants to purchase a condo in Oxford, MS, in 20 years. The cost of the condo is expected to be $180,000. Assuming she can earn 6% annually, what should Katie deposit today?
$126,900
Respond to this Question
Similar Questions

Finances
Kim and Dan Bergholt are both government workers considering purchasing a condo for 280,000. Kims gross incoem is 55,000 and Dans is 38,000 they have 60,000 in a money market fund which earned 5,840 last year. they plan to use most … 
Personal Finance Concept
Bernie and Pam Britten together earn $100,000 a year. They have $40,000 to invest they are considering buying a condo for $100,000 with a required $10,000 down payment. Their friend has recommended the following investments the condoexpected … 
Business Math
IF Joseph deposits $1,000 at yearend for the next 35 years, assuming he makes one yearly deposit of $1,000 at 5% compounded annually, how much interest would he earn? 
math
Timeshare sales provide an opportunity for vacationers to own a resort condo for 1 week (or more) each year forever. The owners may use their week at their own condo or trade the week and vacation elsewhere. Timeshare vacation sales … 
Finite Math
Timeshare sales provide an opportunity for vacationers to own a resort condo for 1 week (or more) each year forever. The owners may use their week at their own condo or trade the week and vacation elsewhere. Timeshare vacation sales … 
Algebra
Mary is 15 years older than her niece Katie. In 10 years Mary is two times as old as Katie. How old are Mary and Katie now? 
Algebra
katie is k years old. harry is 4 years older than katie. rachel is twice as old as harry. if you add together the ages of katie, harry, and rachel the total comes to 36 years. algebraically, determine the age of each person 
Maths
Five years ago Katie was ten times as old as her daughter Melanie was. In 15 years Katie will be three times as old as Melanie will be in 11 years. Use simultaneous equations to determine Katie and Melanie’s current ages. 
Intro to Algebra
In 19977, a math professor bought her condominium for $60,000. The value of the condo has risen steadily so that in 2007 real estate agents tell her the condo is now worth $750,000. Find a formula to represent these facts about the … 
College Algebra
In 1977, a math professor bought her condominium for $60,000. The value of the condo has risen steadily so that in 2007 real estate agents tell her the condo is now worth $750,000. Find a formula to represent these facts about the …