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1. You have been left an inheritance and want to save part of it toward the purchase of a car upon graduation, which is three

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1. You have been left an inheritance and want to save part of it toward the purchase of a car upon graduation, which is three years from now. You know that you will need $17,000 at the end of the three-year period. Assume that you will place this money in a CD that pays 2% interest compounded quarterly and that you will be making no additional deposits into this account a. What is the interest rate per period? (2 Points) b. What is the total number of periods? (2 Points) c. Write an Excel formula to determine the amount of money you need to invest now to have S17,000 at the end of the three-year-period. (4 Points) d. What is the output of the function? If the output is negative, include that as well. (2 Points) o onie vow make a monthly mortgage nayment of

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