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Posted on Aug 01, 2024

You are planning to buy a house in 9 years. You would like to be able to make a down payment of $ 4 9

You are planning to buy a house in $9$ years. You would like to be able to make a down payment of $ $49, 300 .$ The stated interest rate is $8 % ($ APR $) .$ If interest is

compounded continuously, how much will you need to invest today in order to make the down payment?

Enter your response below rounded to two decimal places.

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