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You want to buy a condo 5 years from now, and you plan to save $ 3 , 0 0 0 per year, beginning one

You want to buy a condo

5

years from now, and you plan to save $

3, 000

per year, beginning one year from today. You will deposit the money in an account that pays

8 %

interest. How much will you have just after you make the

5

th deposit,

5

years from now?

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