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You intend to buy a vacation home in seven years and plan to have saved $50,000 for a down payment. How much money would you

You intend to buy a vacation home in seven years and plan to have saved $50,000 for a down payment. How much money would you have to place today into an investment that earns 8% per year to have enough for your desired down payment?

$29,175

$29,100

$37,065

$25,000

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