[Step-by-Step] George wants to have $20,000 available in 5 years for a down payment on a house. How much he should invest now to accumulate $20,000, if
Question: George wants to have $20,000 available in 5 years for a down payment on a house. How much he should invest now to accumulate $20,000, if he can get an interest rate of 8% compounded quarterly?
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