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I want to buy a house in 5 years. I need to have a down payment of $50,000. How much do I need to have today in order to have the down payment, if I can earn 5%?

not sure how to go about this problem

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asked by Janice
  1. This is what I get:
    39,176.31 correct?

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    posted by Janice
  2. I just did the problem another way and got 39200.00 please help me!

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    posted by Janice
  3. Perhaps "Math" in the School Subject box will alert a math tutor to help you.

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