The price of a car that you want is $70,000 today. Its price is expected to increase

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The price of a car that you want is $70,000 today.

Its price is expected to increase by $3300 per year.

You now have $35,000 in an investment which is earning 15% per year. The number of years before you have enough to buy the car without borrowing any money is closest to:

a. 3 years

b. 5 years

c. 7 years

d. 9 years

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Basics Of Engineering Economy

ISBN: 9780073376356

2nd Edition

Authors: Leland T. Blank, Anthony Tarquin

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Question Posted: Oct 26, 2024 07:00 AM

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The price of a car that you want is $70,000 today. Its price is expected to increase

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Basics Of Engineering Economy

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