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How much must be deposited today into the following account in order to have $50,000 in 8 years for a down payment on a house?
How much must be deposited today into the following account in order to have
$50,000 in 8 years for a down payment on a house? Assume no additional deposits are made. An account with monthly compounding and an APR of
4%
What should be deposited today.
(Do not round until the final answer. Then round to the nearest cent as needed.)
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