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9) Steve plans to purchase a house and needs to save $500,000 for a down payment over the next 5 years. What amount would he
9) Steve plans to purchase a house and needs to save $500,000 for a down payment over the next 5 years. What amount would he need to save monthly if his savings can earn 4.25% compounded semi-annually? I/Y P/Y C/Y N PV PMT FV
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