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Bill and Cathy will be retiring in fifteen years and would like to buy an Italian villa. The villa costs $500,000 today, and housing prices

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Bill and Cathy will be retiring in fifteen years and would like to buy an Italian villa. The villa costs $500,000 today, and housing prices in Italy are expected to increase by 6.5% per year. Bill and Cathy wants to deposit one lump sum amount today. If their account earns 10% per year, what is the amount of this deposit? $372,623$286,858$307,839$119,696

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