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Trevor wants to have $35,000 four years from now to buy a new car. He wants to make one deposit today to fund this expenditure.

Trevor wants to have $35,000 four years from now to buy a new car. He wants to make one deposit today to fund this expenditure. Determine how much he has to deposit today if he will earn 5.5 percent per year on his investment and he wants to have $35,000 four years from now?

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