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Required information [The following information applies to the question displayed below.] Mary Kate, Ashley. Dakota, and Elle each want to buy a new home. Each

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Required information [The following information applies to the question displayed below.] Mary Kate, Ashley. Dakota, and Elle each want to buy a new home. Each needs to save enough to make a 20% down payment. For example, to buy a $100,000 home, a person would need to save $20,000. At the end of each year for five years, the women make the following investments. 2. What is the maximum amount each woman can spend on a home, assuming she uses her accumulated investment account to make a 20% down payment? (FV of S1. PV of \$1. FVA of \$1, and PVA of \$5) (Use tables, Excel, or a finoncial calculator. Round your answers to 2 decimal ploces.)

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