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You have estimated that you need $5,300 in liquid assets for an emergency fund. You currently have only $1,400, which is invested in a savings
You have estimated that you need $5,300 in liquid assets for an emergency fund. You currently have only $1,400, which is invested in a savings account earning 3 percent nominal interest, compounded monthly. Your current budget leaves $260 per month to apply to this goal. If you plan to add this money to your savings at the end of every month, how much will you have after one year? (Round answers to 0 decimal places, e.g. 5,275.)
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