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Need help You want to save money to buy a new car. You plan to save 9000 at the end of the first year, and
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You want to save money to buy a new car. You plan to save 9000 at the end of the first year, and you anticipate that your annual saving will increase by 5% annually thereafter. Current interest rate is 8%. How much will you have at the end of year 3? (write down time value of money equation and show your work)Step by Step Solution
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