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How much will have for a down payment at the end of year

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FV OF UNEVEN CASH FLOW

Problem 1: 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 will you have for a down payment at the end of year 3?

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Reference no: EM132660463

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