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

Assume that you plan to buy a condo 5 years from now and you need to save for a down payment. You plan to save $2,500 per year, with the first savings payment being made immediately and deposited in a bank that pays 4%. How much will you have after 5 years?

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