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In an attempt to have funds for a down payment in five years, James Dupont plans to save $4.550 a year for the next five
In an attempt to have funds for a down payment in five years, James Dupont plans to save $4.550 a year for the next five years. With an interest rate of 4 percent, what amount will James have available for a down payment after the five years? Use Exhibit 1: 8 . (Round FVA factor to 3 decimal places and final answer to 2 decimal places.)
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