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You are planning for some expected future expenses. You expect to need to $2000 at the end of 2 years for moving expenses, $4000 at the end of 7 years for new kitchen appliances and $2500 at the end of 10 years for some remodeling. If you want to deposit one lump sum today into a secure investment account that pays 4% compounded annually to be able to withdraw money from this account for all these future expenses at the specified future time, how much would you need to deposit? ?

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Financial Management, Finance

Category:- Financial Management
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