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If you desire to have $ 2 1 , 0 0 0 for a down payment for a house in eight years, what amount would

If you desire to have $

21, 000

for a down payment for a house in eight years, what amount would you need to deposit today? Assume that your money will earn

5

percent. Use Exhibit

1 -

. (

Round your PV factor to

3

decimal places and final answer to the nearest whole dollar.

)

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