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Suppose you want to buy a car in five years. You estimate that, once you start work, you could save $20,000 a year out of

Suppose you want to buy a car in five years. You estimate that, once you start work, you could save $20,000 a year out of your income and earn a return of 8% on these savings. How much will you be able to spend after five years?

$117,332

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