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Assume that you wish to save $25,000 in 5 years to remodel your kitchen. Assume that you can earn an annual compound interest of 8%

Assume that you wish to save $25,000 in 5 years to remodel your kitchen. Assume that you can earn an annual compound interest of 8% from your savings account. How much do you need to invest today to have $25,000 in 5 years?

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