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Check from your grandparents for graduation

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You receive a ?$5,000 check from your grandparents for graduation. You decide to save it toward a down payment on a house. You invest it earning 12?% per year and you think you will need to have ?$10,000 saved for the down payment. How long will it be before the ?$5,000 has grown to ?$10,000?

Reference no: EM132373639

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