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You wish to put money into a savings account to earn enough to make a down payment on a house in 6 years. If you
You wish to put money into a savings account to earn enough to make a down payment on a house in 6 years.
If you have $4,000 to invest now (and nothing else) and you need $15,000 at the end of year 6 for the down payment, what interest rate would you need to earn?
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