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You have always wanted to buy a new car and pay cash. You have decided to save enough money to buy a car paying up

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You have always wanted to buy a new car and pay cash. You have decided to save enough money to buy a car paying up front with cash. You need to buy a new car in 7 years from today. You believe you can earn 8.53% annual yield on invested funds over those 7 years. If you think you can buy your dream car for $70,725, how much would you have to save per month to have $70,725 in 7 years? 4 pts Question 26 Lou Gehrig was major league baseball's MVP in 1927. His annual salary that year was $8,000. The MVP for 2013 was Miguel Cabrera, earning $21,000,000 per year. What is the annual rate of salary appreciation over those years? Please enter your answer without the "%"sign (in other words as 12.45 for 12.45%)

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