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You just inherited $100,000 from your great grandfather, and your are looking to put some of this money into a savings account.The money you put

You just inherited $100,000 from your great grandfather, and your are looking to put some of this money into a savings account.The money you put into the savings account will be used to make a deposit on your "dream house"; you plan on making this deposit and buying this house twenty years from now.Currently, the deposit on your "dream house" is $80,000 and you expect the amount of this deposit to increase by 3% per year due to inflations and other factors.The savings account where you will put your money offers you an annual interest rate of 5% per year.How much money do you need to put into the savings account today to have enough for the house deposit twenty years from now?

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