How much do they need to put aside at the end of years one


Problem

Explain how to solve this question: David and Helen Zhang are saving to buy a boat at the end of 5 years. If the boat costs $20,000 and they earn 10% a year on their savings, how much do they need to put aside at the end of years 1 through 5?

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Finance Basics: How much do they need to put aside at the end of years one
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