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You expect to replace the roof of your house after 5 years at an estimated amount of $20,000 at that time. You can earn

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You expect to replace the roof of your house after 5 years at an estimated amount of $20,000 at that time. You can earn a rate of return of 8% compounded annually on your investments. How much should you set aside each month to be assured of having necessary capital for this purpose? $272.19 $274.18 $852.28 $294.56 $310.46

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