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Solve the Problem. -Suppose You Start Saving Today for a $5000 Down Payment

question 71

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Solve the problem.
-Suppose you start saving today for a $5000 down payment that you plan to make on a condo in 2 years. Assume that you make no deposits into the account after your initial deposit. The account
Has annual compounding and an APR of 5%. How much would you need to deposit now to reach
Your $5000 goal in 2 years?


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A company that offers services to individuals or other companies, including telecommunications, internet access, and various professional services.

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