Question: you want to save for making a down payment on a house 6 years from now, and you plan to save $10,000 per year, beginning

you want to save for making a down payment on a house 6 years from now, and you plan to save $10,000 per year, beginning one year from today. You will deposit your savings in a fund that pays 5% annual interest.

Calculate how much will you have for the down payment just after you make the sixth deposit, six years from now.

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