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Suppose you buy a new car right now with the total expense equals $23,000.00. How much would you have needed to invest 24 years ago

Suppose you buy a new car right now with the total expense equals $23,000.00. How much would you have needed to invest 24 years ago in an account paying 8% compounded annually to cover this amount?

Multiple Choice $3,989.79 $2,901.67 $4,352.50 $3,627.08

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