You want to have 20000 for the down payment on a house in, Financial Management

You want to have 20000 for the down payment on a house in

You want to have $20,000 for the down payment on a house in 10 years. Your parents have promised to give you $3,000 in three (3) years. How much do you need to set aside today if you can earn an 8% APR with monthly compounding on the money you save and the money that your parents give to you three (3)years from today?

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Financial Management: You want to have 20000 for the down payment on a house in

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