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a . The cost of a new automobile is $ 1 0 , 4 0 0 . If the interest rate is 9 % ,
a The cost of a new automobile is $ If the interest rate is how much would you have to set aside now to provide this sum in nine years?
Note: Do not round intermediate calculations. Round your answer to decimal places.
b You have to pay $ a year in school fees at the end of each of the next ten years. If the interest rate is how much you need to set aside today to cover these bills?
Note: Do not round intermediate calculations. Round your answer to decimal places.
c You have invested $ at After paying the above school fees, how much would remain at the end of the ten years? Note: Do not round intermediate calculations. Round your answer to decimal places.
tablea Present value,b Present value,c Future value,
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