question archive Assume that you plan to buy 2 points a condo 5 years from now and you need to save for a down payment
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Assume that you plan to buy 2 points a condo 5 years from now and you need to save for a down payment. You plan to save 2, 500 per year (with the first deposit made immediately), and you will deposit the funds in a bank account that pays 4% interest. How much will you have after 5 years? How much will you have if you make the deposits at the end of each year? *