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You are planning to buy a house in 9 years. You would like to be able to make a down payment of $ 2 4

You are planning to buy a house in

9

years. You would like to be able to make a down payment of $

24, 000 .

The stated interest rate is

13 % (

APR

) .

If interest is compounded quarterly, how much will you need to invest today to be able to make your down payment? Enter your response below rounded to two decimal places.

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