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Assume that you plan to buy a condo 5 years from now and that you need to save for a down payment. You plan to

Assume that you plan to buy a condo 5 years from now and that you need to save for a down payment. You plan to save $3,500 per year, with the first payment being made today and deposited in a bank that pays 4%. How much will you have after 5 years?

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