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Suppose you want to buy a house 1 0 years from now, and you estimate that an initial down payment of $ 2 2 0

Suppose you want to buy a house 10 years from now, and you estimate that an initial down payment of $22000 will be required at that time. To accumulate the initial payment amount, you plan to make equal annual end-of-year deposits into an investment account that pays annual interest of 5percent.

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