You just won some money in the lottery and would like to save a portion of it
Question:
You just won some money in the lottery and would like to save a portion of it so that you will have $50,000 to put a down payment on a house in five years. Your bank pays a 5% rate of interest. How much money will you have to set aside from the lottery winnings?
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Let the principal amount be 50000 ...View the full answer
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