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Twenty years from now, you want to spend $175,000 on a fancy car. How much must you deposit as a lump sum today to achieve

Twenty years from now, you want to spend $175,000 on a fancy car. How much must you deposit as a lump sum today to achieve this goal at an annual interest rate of 5.6 percent?

Group of answer choices

a. $48,740.95

b. 65,955.66

c. $72,093.35

d. $59,132.61

e. $61,552.05

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