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8) Your family plans to spend $25,000 on a car for you upon graduation from college. If you will graduate in three years and your

8) Your family plans to spend $25,000 on a car for you upon graduation from college. If you will graduate in three years and your family can earn 3.125% annually on their investment, how much money must they set aside today for your car?

A) $23,243.66

B) $23,009.21

C) $22,795.45

D) $21,387.36

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