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1. You plan to purchase a BMW M5 sedan for $85,000. You have saved $30,000 for the car and plan to invest this money to

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1. You plan to purchase a BMW M5 sedan for $85,000. You have saved $30,000 for the car and plan to invest this money to purchase the car. How many years would you have to wait if you can earn 12 percent annual rate, compounded quarterly? [3 6.53 I: 7.25 L" 8.81 [3 10.56 ~ 19.54 .1 [3 35.23

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