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Present value: Jack Robbins is saving for a new car. He needs to have $ 21,000 for the car in three years. How much will

Present value: Jack Robbins is saving for a new car. He needs to have $ 21,000 for the car in three years. How much will he have to invest today in an account paying 8 percent annually to achieve his target? (Round to nearest dollar.)

$19,444

$22,680

$16,670

$26,454

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