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Kim is trying to figure out how to make her money grow for her. Shes been reading about Time Value of Money in class. (Isnt
Kim is trying to figure out how to make her money grow for her. Shes been reading about Time Value of Money in class. (Isnt she lucky?!). Shes decided that even though she cant afford a house right now, that shed like to invest some money she has so that she will have a down payment for a house in 10 years. Kim has determined that $60,000 sounds like a good goal. She found a CD that offers a 5% interest rate compounded annually. How much money will Kim need to invest today to reach her goal of $60,000 in 10 years
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