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You want to have $32,000 for a down payment on a house 5 years from now. If you can earn 4.3 percent, compounded annually on
You want to have $32,000 for a down payment on a house 5 years from now. If you can earn 4.3 percent, compounded annually on your savings, how much do you need to deposit today to reach your goal?
a) $24,625.44
b) $21,639.73
c) $28,179.77
d) $25,925.58
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