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If Maria wants to buy a house in 5 years and estimates shell need a down payment of $50,000, how much does she need to
If Maria wants to buy a house in 5 years and estimates shell need a down payment of $50,000, how much does she need to set aside today if she can earn 6% annual return on her investment?
A) Calculate using the present value formula PV = FV / (1+i)n.
B) Calculate using the TVM table.
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