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How much will you have for a down payment

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Question - You want to buy a house within 4 years and you are currently saving for the down payment. You plan to save R5000 at the end of the first year, and you anticipate that you annual savings will increase by 10% annually thereafter. Your expected annual return is 12%.

Required - How much will you have for a down payment at the end of year 4?

Reference no: EM132878906

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