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*Please use financial calculator apporach and show steps* FV of uneven cash flow: You want to buy a house within 3 years, and you are
*Please use financial calculator apporach and show steps*
FV of uneven cash flow:
You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $5,000 at the end of the first year, and you anticipate your annual savings will increase by 10% annually thereafter. Your expected annual return is 7%. How much wil you have for a down payment at the end of year 3?
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