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Charlotte has a son who just started college. Charlotte decided to save $5,000 a year for four years, starting a year from today, in an

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Charlotte has a son who just started college. Charlotte decided to save $5,000 a year for four years, starting a year from today, in an account that gives an interest rate of 5% to purchase a new car for her son when he graduates. What is the most Charlotte can afford to spend on a car in four years?

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rate nper pmt pv type FV

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