Answered

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You are planning to buy a house in five years. How much do you need to deposit today to have a $10,000 down payment if your investment will make 6%?

*Remember to determine what you're solving for first:

Simple interest

Present or future value of a single amount

Present or future value of an annuity (a series of deposits).

Sagot :

Answer:

7,472.58

Explanation:

10000*(1/(1.06)^5)

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