Let's say we are budgeting this year to make sure we have enough to pay our mortgage payments for the next five years. We know we'll pay $2,000 at the end of each year for the first three years and then $3,000 at the end of each year for the last two. How much do we need to save today in order to make sure we can meet all these payments if the interest rate is 12%?

Answer rating: 100% (QA)

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