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How much would you have for a down payment

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    Assignment ID: FG132993076

    You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $5000 at the end of the first year, and you anticipate that your annual savings will increase by 10 % annually thereafter. Your expected annual return is 7%. How much would you have for a down payment at the end of year 3?

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