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You want to have $50,000 for a down payment on a house 5 years from now. If you can earn 6.5 percent, compounded annually, on

You want to have $50,000 for a down payment on a house 5 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?

To show your work show your calculations either using formulas or financial calculator.

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