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Ronnie Cox has just inherited $27,000. How much of this money should he set aside today to have $18,000 to pay cash for a Ventura

Ronnie Cox has just inherited $27,000. How much of this money should he set aside today to have $18,000 to pay cash for a Ventura Van, which he plans to purchase in one year? He can invest at 1.6% annually, compounded annually.

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