Question: ou are saving money for a down payment on a house. Suppose you want to have total savings of $20,000 in 10 years time and

ou are saving money for a down payment on a house. Suppose you want to have total savings of $20,000 in 10 years time and you have currently $5,000. What annual interest rate do you need to earn on your initial investment, assuming you contribute no additional savings?

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