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Today is your birthday, and your uncle gives you $ 3 , 0 0 0 to save for a down payment on a new house.
Today is your birthday, and your uncle gives you $ to save for a down payment on a new house. Your bank account pays interest, and your uncle promises an additional $ on each of your next four birthdays. Five years from today, how much will you have saved?
What type of annuity is this? Ordinary annuity
Enter the data into your calculator:
N
IY
PV
PMT
Solve for FV by pressing CPT FV
FV $
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