Question: Daniel Jackson plans to save $4,802 every year for the next eight years, starting today. At the end of eight years, Daniel will turn 30

Daniel Jackson plans to save $4,802 every year for the next eight years, starting today. At the end of eight years, Daniel will turn 30 years old and plans to use his savings toward the down payment on a house. If his investment in a mutual fund will earn him 11.5 percent annually, how much will he have saved in eight years when he buys his house?

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