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How much must be deposited today into the following account in order to have $ 40 comma 000 $40,000 in 7 7years for a down

How much must be deposited today into the following account in order to have $ 40 comma 000

$40,000 in 7

7years for a down payment on ahouse? Assume no additional deposits are made.

An account with annual compounding and an APR of 5

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