If you desire to have $23,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 3 percent. Use Exhibit 1-C. (Round your PV factor to 3 decimal places and final answer to the nearest dollar amount.) Deposit $ Explanation: $23,000 × 0.837 = $19,251 (Exhibit 1-C)

If you desire to have $23,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 3 percent. Use Exhibit 1-C. (Round your PV factor to 3 decimal places and final answer to the nearest dollar amount.)

  

Deposit

$

Explanation: $23,000 × 0.837 = $19,251 (Exhibit 1-C)