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John believes he can save $100 per week for ten years. Then, he can save $1,000 per month for the following ten years. However, the

John believes he can save $100 per week for ten years. Then, he can save $1,000 per month for the following ten years. However, the earliest he can begin saving is five years from now. Compute the present value of John's savings if the interest rate is 8%.

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