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Alice wants to buy a house in five years. She has $10,000 right now. She wants to have $30,000 for her down payment. Alice is
Alice wants to buy a house in five years. She has $10,000 right now. She wants to have $30,000 for her down payment. Alice is an aggressive investor and believes she can get a 12% return on her investments. How much will Alice need to invest annually (at the beginning) of each of the next five years to achieve her goal? (Interest compounded annually)
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