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You are saving for a car that costs $28,000 that you hope to purchase in 5 years. How much will you need to deposit

You are saving for a car that costs $28,000 that you hope to purchase in 5 years. How much will you need to deposit today in a savings account that ears 8% interest, compounded annually, to withdraw enough for the purchase? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1) Note: Use appropriate factor from the PV tables.

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