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Jenna would like to purchase a new car in three years. If she saves 51,300 per year in an account that pays 8% annual interest
Jenna would like to purchase a new car in three years. If she saves 51,300 per year in an account that pays 8% annual interest for the next 3 years, how much will she have saved for a down payment? (Round the final answer to the nearest dollar) Values for i=8% -3 Present value of an ordinary annuity of S1 2.577 Present value of $1: 772 Future value of an ordinary annuity of 51 3.246 Future value of 51 1.260 CELLEN O A $4,004 OB. $3,350 OC. $4,650 D. $4,220
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