How much would you have for down payment at the end of year

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You want to buy a house within 3 years, and you are currently saving for the down payment. You plan to save $6,000 at the end of the first year, and you anticipate that your annual savings will increase by 20% annually thereafter. Your expected annual return is 5%. How much would you have for a down payment at the end of Year 3? Round your answer to two decimal places.

Reference no: EM131043611

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