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You expect that you will need to replace your furnace in 4 years at a cost of $15,777. How much must you save today in

You expect that you will need to replace your furnace in 4 years at a cost of $15,777. How

much must you save today in an account that pays 3.5% APR (compounded monthly) to exactly pay the $15,777 in 4 years?

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