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If you desire to have $25,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume

If you desire to have $25,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 15 percent.

a.

$50,283.93

b.

$2,960.49

c.

$9,943.53

d.

$15,673.98

e.

$12,429.42

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