It will take Richard and Sarah 3 years to save enough for a down payment on a house at their current rates. If the house's downpayment is $108000, calculate the amount each person saves per month if they share the monthly savings.
How many months will they save for? ** If they are to save every month for three years to reach the target amount, and each year has 12 months, they'll save for 12*3 = <<12*3=36>>36 months.
How much do they save every month? ** If the house's downpayment is $108000, the total amount they both save per month is $108000/36 = $<<108000/36=3000>>3000 every month.
How much does each person pay? ** Since they share the monthly savings, each person will pay $3000/2= =$<<3000/2=1500>>1500
#### 1500