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5. Suppose you need $10,000 in one year for the down payment on a new car. If you can earn 7% annually, how much do

5. Suppose you need $10,000 in one year for the down payment on a new car. If you can earn 7% annually, how much do you need to invest today?

6. You want to begin saving for your daughters college education and you estimate that she will need $150,000 in 17 years. If you feel confident that you can earn 8% per year, how much do you need to invest today?

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