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Jane wants to buy a mountain cabin for her retirement. She recently came into an inheritance of $250,000. She estimates that the cabin she wants
Jane wants to buy a mountain cabin for her retirement. She recently came into an inheritance of $250,000. She estimates that the cabin she wants will cost $400,000 when she retires in 5 years. If she is able invest her inheritance to earn an annual rate of 8% (compounded annually), will she have enough to buy her cabin in 5 years?
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