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You Want to Have $25,000 for a Down Payment on a House

Question 33

Multiple Choice

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

Correct Answer:

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