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You want to buy a house five years from now. You anticipate that you will need $50,000 for the down payment. If you believe your
You want to buy a house five years from now. You anticipate that you will need $50,000 for the down payment. If you believe your savings can earn a return of 5% per year, how much should you save today (at t=0) to end up with $50,000 in five years?
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