Question: Tracy Chapman is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that

Tracy Chapman is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that she will need $35,000 for the down payment. If Tracy can invest in a fund that pays 9.25 percent annually, how much will she need to invest today?

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