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Please help due 1 2 ! ! ! ! 0 1 point You have a savings goal to purchase a house in 5 years. However,
Please help due point
You have a savings goal to purchase a house in years. However, you want minimize your mortgage payments as much as possible. You decide to set a lofty goal to put down $ when its time to purchase. To achieve this, you plan to make a onetime lump sum investment now and let it grow over the year period. The bank offers a special plan for first time home buyers that offers an annual interest rate of with the interest being compounded monthly. What initial lump sum amount do you need to invest today to
ensure that your investment grows to $ in years? round to the nearest dollar $
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