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Suppose you buy a new car right now with the total expense equals $38,500.00. How much would you have needed to invest 12 years ago

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Suppose you buy a new car right now with the total expense equals $38,500.00. How much would you have needed to invest 12 years ago in an account paying 4% compounded annually to cover this amount? Multiple Choice $28,856.38 $24,046.99 $19,237.59 $26,451.69

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