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You want to buy a house within 4 years, and you are currently saving for the down payment. You plan to save $5,000, $5,500, $6,050,
You want to buy a house within 4 years, and you are currently saving for the down payment. You plan to save $5,000, $5,500, $6,050, and $6,655 at the end of each year. Your expected annual return of your savings each year is 7%. How much will you have for the down payment at the end of Year 4? [10 points]
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