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24. Dustin is considering an investment that will pay $3,000 a year for 10 years, starting 1 year from today. How much should Dustin pay
24. Dustin is considering an investment that will pay $3,000 a year for 10 years, starting 1 year from today. How much should Dustin pay for this investment if he wishes to earn a 9 percent rate of return?
a. $17,985.74 b. $18,349.81 c. $19,252.97 d. $20,415.57
e. $21,213.24
25. Steven can afford car payments of $250 a month for 60 months. The bank will lend him this money at 6.2 percent interest. How much can Steven borrow? a. $12,568.63 b. $12,869.39 c. $13,672.38 d. $14,104.91 e. $14,770.27
Please show me the steps on a financial calculator.
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