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A student received a $500 gift from his grandparents. He wants to invest this money for the down payment of a house that he plans

A student received a $500 gift from his grandparents. He wants to invest this money for the down payment of a house that he plans to purchase in 3 years. What type of computation should he use? Multiple Choice Present value of a single amount Future value of a single amount Simple interest Present value of an annuity Future value of an annuity

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