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Today is January 1st. You decided that on December 31st each year, starting at the end of this year, you will be investing $3,600

 

Today is January 1st. You decided that on December 31st each year, starting at the end of this year, you will be investing $3,600 in a special investment account. Your goal is to have exactly $120,000 after making a total of 17 of such investments. This is exactly how much your dream antique car will cost you! This is a(n) [Select] problem. $3,600 that is given is [Select] , and $120,000 that [Select] is given is [Select] Future Value (FV) . The implied annual int Present Value (PV) [Select] [Select] recurring cash flow amount (PMT) percent (rounded to two decimal places). Notice that the answer needs to be in percent, not in decimals.

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