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Can you help me solve this ? You would like to purchase a antique car in 6 years. The current price of such a car
Can you help me solve this ?
You would like to purchase a antique car in 6 years. The current price of such a car is $70,000 but the price of these types of cars is rising at a rate of 4% per year. How much would you have to invest in years 1 to 5. (the same amount in each year) in nominal terms to exactly pay for the antique car if your investments earn 8% APR (compounded annually) in nominal terms? $13,979 $14.259 13,572 $13,844 Step by Step Solution
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