Question: Dave Bidini has saved $20,000 for a down payment on a home and plans to save another $5000 at the end of each year for

Dave Bidini has saved $20,000 for a down payment on a home and plans to save another $5000 at the end of each year for the next five years. He expects to earn 7.25% compounded annually on his savings. How much will he have in five years’ time?

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