Question: * The answer is not 6 7 , 1 3 9 * You have a savings goal to purchase a house in 5 years. However,

*The answer is not 67,139* You have a savings goal to purchase a house in 5 years. However, you want minimize your
mortgage payments as much as possible. You decide to set a lofty goal to put down $100,000
when its time to purchase. To achieve this, you plan to make a one-time lump sum investment
now and let it grow over the 5-year period. The bank offers a special plan for first time home
buyers that offers an annual interest rate of 8%, with the interest being compounded monthly.
What initial lump sum amount do you need to invest today to ensure that your investment
grows to $100,000 in 5 years? (round to the nearest dollar) $
 *The answer is not 67,139* You have a savings goal to

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