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Becky Sayers wants to buy a house in five years. She hopes to be able to make a down payment of $25,000 at that time.
Becky Sayers wants to buy a house in five years. She hopes to be able to make a down payment of $25,000 at that time. If the bank CD she wants to invest in will pay 5.5 percent annually, how much will she have to invest today? (Do not include the $ sign, and round to the nearest cents, e.g., 62,344.15.)
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