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Michael just graduated from college and would like to have a down payment for a house in 7 years. He will be able to save

Michael just graduated from college and would like to have a down payment for a house in 7 years. He will be able to save $6,500 at the end of each year. If he earns 4.5% per year on his savings, how much will Michael have saved at the end of 7 years?

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