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How much would you have for a down payment

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Question - FV of uneven cash flow - You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $9,000 at the end of the first year, and you anticipate that your annual savings will increase by 15% annually thereafter. Your expected annual return is 8%. How much would you have for a down payment at the end of Year 3?

Reference no: EM133064904

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