Own tax Teturn? Assume she can earn 3 percent on her savings. 8. Calculating the Time Value of Money for Savings Goals. If you desire to have $20,000 for a down payment for a house in five years, what...

Question 8

Extracted text: Own tax Teturn? Assume she can earn 3 percent on her savings. 8. Calculating the Time Value of Money for Savings Goals. If you desire to have $20,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 4 percent. LO1-4