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Present Value Lump Sum: Katie is saving to buy a house in five years. She plans to put 20 percent down at that time, and
Present Value Lump Sum: Katie is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that she will need $45,000 for the down payment. If Tracey can invest in a fund that pays 7.5 percent annually, how much will she need to invest today? O $29,476.50 O $30,545.00 O $31,345.14 O $35,234.02 
Present Value Lump Sum: Katie is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that she will need $45,000 for the down payment. If Tracey can invest in a fund that pays 7.5 percent annually, how much will she need to invest today? $29.476.50 $30,545.00 $31.345.14 $35,234.02
Present Value Lump Sum: Katie is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that she will need $45,000 for the down payment. If Tracey can invest in a fund that pays 7.5 percent annually, how much will she need to invest today? O $29,476.50 O $30,545.00 O $31,345.14 O $35,234.02
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