Compounding on the money you save and the money

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You want to have $20,000 for the down payment on a house in 10 years. Your parents have promised to give you $3,000 in two (2) years. How much do you need to set aside today if you can earn an 8% APR with monthly compounding on the money you save and the money that your parents give to you two (2) years from today?

Reference no: EM13976160

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