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9. You want to have $30,000 for a down payment on a house 7 years from now. If you can earn 7 percent, compounded annually,

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9. You want to have $30,000 for a down payment on a house 7 years from now. If you can earn 7 percent, compounded annually, on your savings, how much do you need to deposit today to reach your goal? A. $17,133.35 B. $17,420.73 C. $20,796.24 D. $21,796.24 E. None of the above 10. You have $1,000 today and want to double your money in 7 years. What interest rate must you carn if the interest is compounded annually? A. 11.41 percent B. 16.90 percent C. 16.99 percent D. 24.57 percent E. None of the above

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