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How much do think needs to invest today to meet down payment

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Question 1: lana intends to buy a house five (5) years later. She estimated that she will need a down payment of $120,000 by then. To prepare for the down payment, she wants to place a fix sum in an investment now which will pay a return of 6% annually. How much do you think she needs to invest today to meet the down payment amount

Reference no: EM132910665

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