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    Compound Interest

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    Carrie needs to accumulate $40,000 to make a down payment on a house at the end of 4 years. How much money should she deposit in a bank account today to accomplish this if the bank pays 6% interest compounded per year?

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    https://brainmass.com/economics/finance/compound-interest-464709

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    Carrie needs to accumulate $40,000 to make a down payment on a house at the end of 4 years. How much ...

    Solution Summary

    Compound Interest

    $2.19