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You plan to save for the down payment on a home. You will open an account today, but make your first annual payment of $418

You plan to save for the down payment on a home. You will open an account today, but make your first annual payment of $418 at the end of each year (starting at the end of the next year). How much will your account be worth in 10 years if the account earns 8.1% annual interest.

How much will you need to have in account today to fund $826 annual payments for 13 years? Assume the account pays 4.2% annual interest and that you will receive the annual payments at the beginning of each year.

You wish to accumulate $810. You plan to make a deposit today into an account that pays 7.6% nominal interest. If your investment horizon is 12 years, how much do you need to deposit today to have the desired amount at the end of your investment horizon?

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