Payment on a beach house, You would like to have $100,000 in 20 years for a down payment, Accounting Basics

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Payment on a beach house

Problem:

You would like to have $100,000 in 20 years for a down payment on a beach house. You are not sure if you should make one payment now, or pay an amount every year for 20 years.

Required:

Question: If the investment will gain 6% annual interest, what is the best alternative and why?

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Accounting Basics: Payment on a beach house

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Accounting Basics: Payment on a beach house

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