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Rhea is 20 years old, and she wants to buy a house by the time she is 40 years old. Ideally, she'd like to invest a lump sum now and watch it grow over time, at an interest rate of 5% annually, until she has enough to make a down payment of $40,000 on the home. What is the minimum amount (rounded up to the nearest dollar) she should invest now to reach her goal in 20 years?

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Rhea is 20 years old, and she wants to buy a house by the time she is 40 years old. Ideally, she'd like to invest a lump sum now and watch it grow over time, at an interest rate of 5% annually, until she has enough to make a down payment of $40,000 on the home. What is the minimum amount (rounded up to the nearest dollar) she should invest now to reach her goal in 20 years?






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