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How much should alicia put away into an investment each year

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Problem 1: Alicia gets a yearly alimony payment from her ex-husband and wants to save enough to put a 20% down payment on a home in 3 years. Median homes go for $650,000 and are expected to appreciate at the inflation rate of 3%. How much should Alicia put away into an investment each year if she can get a 6% return a year?

Option 1: 53144

Option 2: 44621

Option 3: 21961

Option 4: 26223

Reference no: EM132760234

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