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You want to have $25,000 for a down payment on a house 6 years from now. If you can earn 6.5 percent, compounded annually, on

You want to have $25,000 for a down payment on a house 6 years from now. If you can earn 6.5 percent, compounded annually, on your savings, how much do you need to deposit today to reach your goal? a. $17,133.35 b. $17,420.73 c. $17,880.69 d. $18,211.17 e. $18,886.40

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