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In three years, when he is discharged from the Air Force, Steve wants to buy an $8,000 power boat. What lump-sum amount must he invest

In three years, when he is discharged from the Air Force, Steve wants to buy an $8,000 power boat. What lump-sum amount must he invest now to have the $8,000 at the end of 3 years at: 1) 10% ? 2) 14%

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